S&P gives A to Amgen notes

Standard & Poor's said it assigned its A issue-level rating to Amgen Inc.'s proposed unsecured notes offering.

S&P expects the company to issue the notes in five tranches: two senior floating-rate tranches due in three and five years and three fixed-rate tranches due in three, five and 10 years.

The company will use proceeds to redeem the class A preferred shares of subsidiary ATL Holdings Ltd., to repay a portion of the term loan or for general corporate purposes.

S&P said it regards the transaction as leverage neutral.

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