S&P rates Amgen notes A+

Standard & Poor's said it assigned an A+ senior unsecured ratings to Amgen Inc.'s proposed issue of senior unsecured notes.

Although the agency said it expects the total amount of borrowings to be at least $3.6 billion, specific amounts and rates will be determined by market conditions.

The ratings reflect the company's strong business risk profile and minimal financial risk profile, S&P said.

The ratings also encompass both the benefits of its portfolio of highly profitable products and the challenges of generating growth from a stable of older products, the agency said.

Although there are no significant near-term competitive threats, a lack of overall product diversity remains a key credit risk, S&P said.

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