Fitch to lower Boston Scientific

Fitch Ratings said it completed its review of the anticipated capital structure, business prospects and cash flow of Boston Scientific Corp. on a pro forma basis, assuming the company's $27.5 billion acquisition of Guidant Corp. is approved and completed.

The transaction is expected to close on or about March 31, the agency said.

If the transaction is completed as currently structured, Fitch said it expects to downgrade Boston Scientific's ratings as follows: issuer default rating to BBB from A, senior unsecured notes to BBB from A, unsecured bank credit facility to BBB from A and commercial paper to F2 from F1.

Fitch added it anticipates the outlook would be stable.

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