S&P gives Amgen notes A+

Standard & Poor's said it assigned its A+ rating to Amgen Inc.'s shelf drawdown of senior unsecured notes, to be divided into 10-year and 30-year tranches due 2018 and 2038, respectively.

Proceeds will be used mainly to refinance debt, the agency said, adding that the long-term corporate credit rating on Amgen is A+ and the rating outlook is negative.

The A+ rating reflects the strength of the company's high-margin product portfolio and conservative financial policies, offset by the company's still relatively narrow drug portfolio, S&P said.

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