Fitch affirms Abbott

Fitch Ratings said it affirmed Abbott Laboratories' A+ issuer default rating and A+ bank loan and senior unsecured debt ratings.

In addition, the agency said that the F1 short-term debt and commercial paper ratings have been affirmed.

Fitch noted that it has also assigned an A+ rating to Abbott's new $3 billion senior unsecured debt offering comprising five-, 10- and 30-year debt.

Fitch said it affirms the following: issuer default rating at A+, bank loan at A+, senior unsecured debt at A+, short-term debt at F1 and CP at F1.

The outlook is stable.

Fitch said it believes that total debt leverage will ease to 1.6 times in 2010 and fall into the 1.3x range in 2011, from a combination of operational improvement, annualizing the Solvay purchase and debt reduction.

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