S&P assigns Amgen notes A+

Standard & Poor's said it assigned its A+ issue-level rating to Amgen Inc.'s proposed $1 billion of senior unsecured notes, divided into two tranches, due 2020 and 2040.

Proceeds from the notes offering will be used for general corporate purposes, including refinancing existing debt, the agency said.

"Our corporate credit rating on Amgen is A+, reflecting a diverse, high-margin product portfolio, robust free cash flows, and continued conservative financial policies, highlighted by a net cash position and a minimal financial risk profile," said S&P credit analyst Arthur Wong.

Amgen's current challenges include an aging current product portfolio and generating sales growth, the agency noted.

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