Fitch rates Amgen bonds BBB

Fitch Ratings said it assigned a BBB rating to Amgen Inc.'s proposed senior unsecured debt issuance comprising five-, 10- and 31-year bonds.

The proceeds will be used for general corporate purposes, including funding of an acceleration of the company's financial policy.

Amgen is in the midst of accelerating activities under a new financial policy, originally announced in April 2011, directed at returning a significant portion of profit to equity holders via the initiation of a new dividend and aggressive share repurchasing, Fitch said.

While the company's debt leverage is more reflective of a lower rating category, Amgen's credit profile is supported by very strong liquidity, the agency said.

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