Moody's rates CareFusion notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to the proposed $1.4 billion senior unsecured notes of CareFusion Corp. in conjunction with the proposed spin-off by Cardinal Health, Inc.

The outlook is stable.

On Sept. 29, Cardinal announced its intention to separate its clinical and medical products businesses from its other businesses, including its healthcare supply chain services business, through a pro rata distribution of at least 80% of the stock to shareholders, according to the agency.

Moody's said that the Baa3 senior unsecured rating is supported by the company's leading market positions in the market that it serves and a track record of strong organic growth over the past several years.

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