Moody's gives Amgen notes A3

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

At the same time, Moody's said it affirmed Amgen's existing ratings including the A3 long-term and Prime-2 short-term ratings.

The outlook is stable.

According to the agency, proceeds of the note offering are for general corporate purposes, including working capital, debt repayment, share repurchases, and business development.

"Amgen is successfully weathering top-line pressures but competition and reimbursement issues are likely to intensify," stated Moody's senior vice president Michael Levesque.

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