...NEW YORK (S&P Global Ratings) May 9, 2016--S&P Global Ratings today assigned its 'A-' issue-level ratings to U.S. pharmaceutical company Abbvie Inc.'s (A-/Stable/A-1) proposed offerings of senior unsecured notes of various maturities. The rating is the same as our rating on the company's existing unsecured notes. The company plans to use the proceeds to fund the Stemcentrx acquisition and pay related fees and expenses, to finance share repurchases, and to repay the company's outstanding term loan maturing in November 2016. If there are any remaining proceeds, they will be used for general corporate purposes. Our corporate credit rating on Abbvie is 'A-' with a stable outlook. Our rating on AbbVie continues to reflect its well-established position in the branded pharmaceuticals market; a highly profitable, market-leading product; and a promising pipeline over the next few years. It also reflects leverage, pro forma for the acquisition of about 3x at the end of 2016, improving to the mid-2x...
