S&P gives A- to AbbVie notes

S&P said it assigned its A- issue-level rating to AbbVie Inc.'s announced offering of euro-denominated senior unsecured notes, to be issued in three tranches maturing in 2019, 2024 and 2029.

The company will use proceeds from the offering to repay all or part of its 1.75% senior unsecured notes due Nov. 6, 2017, as well as for general corporate purposes.

The transaction does not affect S&P’s A- corporate credit and senior unsecured debt ratings or the stable outlook on AbbVie, as S&P expects the transaction to be essentially leverage neutral.

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