...NEW YORK (S&P Global Ratings) Sept. 28, 2016--S&P Global Ratings said today that Boston Scientific Corp.'s (###-/Negative/--) announced plan to acquire EndoChoice Holdings Inc. for about $250 million (including outstanding debt) is within the scope of its expectation for Boston's acquisition spend in 2016 and does not affect its ratings on the company. We expect the company to close this acquisition in the fourth quarter of 2016. Despite adjusted debt leverage of 7.4x for 2015, and our estimate of adjusted debt leverage of about 5.7x for 2016, which are exceptionally weak for the rating, we assess Boston Scientific's financial risk profile as aggressive, which is generally consistent with adjusted debt leverage in the 4x-5x area. This assessment is supported by our expectation for rapid deleveraging to below 4.0x for 2017 (as product liability-related expenditures subside and as the company settles with plaintiffs, reducing the unfunded legal liability). It is also based on the company's...
