Boston Scientific (BSX) Corp. Rating Boosted to 'Investment Grade' at Moody's
Boston Scientific Corporation (NYSE: BSX) announces that Moody's Investors Service has upgraded the Company's corporate credit rating to an investment grade rating, Baa3, with a stable outlook. Fitch Ratings and Standard & Poor's currently rate the Company's corporate credit as investment grade at BBB-, with a stable outlook.
"We are pleased to achieve an investment grade rating from all three major credit rating agencies, recognizing the strength of our balance sheet, strong cash flow, recent drug-eluting stent and cardiac rhythm management product launches, as well as other tangible signs of the progress we are making in driving value with our POWER strategy," said Jeff Capello, Executive Vice President and Chief Financial Officer. "We remain committed to a strong capital structure and improved profitability, while retaining the capacity to fund investments in our Priority Growth Initiatives and other programs to increase shareholder value."
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"We are pleased to achieve an investment grade rating from all three major credit rating agencies, recognizing the strength of our balance sheet, strong cash flow, recent drug-eluting stent and cardiac rhythm management product launches, as well as other tangible signs of the progress we are making in driving value with our POWER strategy," said Jeff Capello, Executive Vice President and Chief Financial Officer. "We remain committed to a strong capital structure and improved profitability, while retaining the capacity to fund investments in our Priority Growth Initiatives and other programs to increase shareholder value."
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