...May 21, 2020 BOSTON (S&P Global Ratings) May 21, 2020--S&P Global Ratings today assigned its '##' issue-level rating to Teleflex Inc.'s proposed senior unsecured notes. We expect the company to use the proceeds to partially repay its current revolver borrowings. Our '##+' issuer credit rating and stable outlook on Teleflex are unchanged by the debt issuance. Our rating on Teleflex reflects the company's good product and geographic diversification, recurring revenues given its significant portfolio of single-use products, broad customer base, and improving profitability as the company expands into high-margin specialized products. The commodity-like nature of products in Teleflex's legacy business lines and competition with larger and financially stronger peers partially offset those factors. The rating also reflects our expectation that the company's balanced financial policy will result in long-term S&P Global Ratings-adjusted leverage sustained below 3.5x. While Teleflex's leverage may...
