Moody's: Celgene notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to Celgene Corp.'s new $1.5 billion senior unsecured note offering.

At the same time Moody's affirmed the company's existing Baa2 long term senior unsecured rating and Prime-2 commercial paper rating.

The outlook remains stable.

Moody's said Celgene's Baa2 rating reflects strong margins and cash flow and good growth prospects for flagship product Revlimid. Expanding usage of Revlimid is supported by various ongoing clinical trial results that are driving incremental use in multiple myeloma.

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