S&P gives Hologic notes BB-

S&P said it assigned its BB- issue-level and 6 recovery ratings to Hologic Inc.'s proposed $950 million of senior unsecured notes. The 6 recovery rating reflects expectations for negligible (0%-10%; rounded estimate: 5%) recovery in the event of default.

The company will use proceeds to redeem its outstanding 4 3/8% unsecured notes due 2025.

“Our BB+ issuer credit rating and existing issue-level ratings on Hologic are unchanged,” said S&P in a press release.

The outlook is stable.

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