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Moody's lifts CareFusion view to positive
Moody's Investors Service said it affirmed the Baa3 senior unsecured rating for CareFusion Corp. and changed the outlook to positive from stable.
The agency also said it affirmed the Baa3 rating on the company's $250 million senior unsecured notes due 2012, Baa3 rating on its $450 million senior unsecured notes due 2014 and Baa3 rating on its $700 million senior unsecured notes due 2019.
The positive outlook reflects expectations for continued strength in CareFusion's dispensing and infusion businesses, the two segments that generate the vast majority of the company's EBITDA and cash flow, despite softness in the procedural solutions business, Moody's said.
The ratings are constrained by the company's significant concentration of profitability in dispensing products, infusion pumps and respiratory products, the agency said.
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