Moody's gives Boston Scientific notes Baa3

Moody's Investors Service said it assigned a Baa3 to Boston Scientific Corp.'s new $1.05 billion senior unsecured note offering and a provisional Baa3 to its senior unsecured shelf.

The company's existing debt ratings remain unchanged.

The outlook is stable.

Proceeds from this offering, along with a new $400 million unsecured bank term loan (unrated) will be used to refinance the company's $600 million notes due in June 2014 and its $850 million in notes due January 2015.

Moody's said Boston Scientific's Baa3 ratings reflect its relatively good revenue base, diverse product areas and moderate leverage, offset by challenges in its core cardiovascular and cardiac rhythm management product lines.

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