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S&P rates Amgen notes A+
Standard & Poor's said it assigned an A+ rating to Amgen Inc.'s proposed offering of senior unsecured notes.
The proceeds will be used for general corporate purposes, including refinancing existing debt, S&P said.
The rating reflects the company's strong business risk profile, highlighted by its high-margin product portfolio, robust free cash flows and continued conservative financial policies, S&P said.
Amgen's current challenges in generating sales growth and expanding its still relatively narrow drug offerings slightly offset those factors, the agency said.
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