Boston Scientific Corp.'s Senior Unsecured Note Issuance Rated 'BBB-'

NEW YORK (S&P Global) Feb. 22, 2018—S&P Global Ratings today assigned its 'BBB-' issue-level ratings to Marlborough, Mass.-based medical device company Boston Scientific Corp.'s planned issuance of senior unsecured notes. We expect the company to use the proceeds to refinance certain short-term outstanding debt obligations. Our 'BBB-' corporate credit rating on Boston Scientific reflects our assessment of the company's business risk as strong, financial risk profile as significant, as well as substantial volatility in the company's margins (when incorporating litigation expenses) and free cash flow generation over time. The outlook is stable. Our assessment of the company's strong business risk profile reflects the company's broad portfolio of market-leading medical devices used in diverse specialties, an expansive geographic footprint, limited competition,

...NEW YORK (S&P Global) Feb. 22, 2018--S&P Global Ratings today assigned its '###-' issue-level ratings to Marlborough, Mass.-based medical device company Boston Scientific Corp.'s planned issuance of senior unsecured notes. We expect the company to use the proceeds to refinance certain short-term outstanding debt obligations. Our '###-' corporate credit rating on Boston Scientific reflects our assessment of the company's business risk as strong, financial risk profile as significant, as well as substantial volatility in the company's margins (when incorporating litigation expenses) and free cash flow generation over time. The outlook is stable. Our assessment of the company's strong business risk profile reflects the company's broad portfolio of market-leading medical devices used in diverse specialties, an expansive geographic footprint, limited competition, and high barriers to entry in these product markets. Our assessment of business risk also incorporates the rapid pace of technological...

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