Moody's affirms Abbott

Moody's Investors Service said it assigned a provisional A1 senior unsecured shelf rating to Abbott Laboratories' new shelf registration and affirmed all existing ratings.

Moody's said the rating assumes that any near-term draws from this shelf would likely be associated with the pending purchase of the vascular assets of Guidant Corp. under terms of an amended agreement with Boston Scientific.

Affirmed ratings include Abbott Laboratories' A1 senior unsecured notes, A1 industrial revenue bonds and Prime-1 short-term rating.

The current rating assignment and the expected affirmation upon the closing of the transaction reflect Abbott's diversified product portfolio and its relatively low concentration risk associated with its key pharmaceutical products, the agency said.

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