Moody's gives Amgen notes A3

Moody's Investors Service said it assigned a rating of A3 to the new senior unsecured debt issuance of Amgen Inc.

The outlook is stable.

Moody's said it most recent prior rating action on Amgen was a downgrade to A3/Prime-2 from A2/Prime-1 on May 13.

Proceeds from the offering are expected to be used for general corporate purposes, including an upcoming $2 billion debt maturity in November, the agency said.

"Moody's downgrade of Amgen last week results from pressures both near-term and long-term facing the company's core products, combined with uncertain growth potential from the late-stage pipeline," stated Moody's senior vice president Michael Levesque.

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