Moody's gives Bristol-Myers notes A2

Moody's Investors Service said it assigned a rating of A2 to the new senior unsecured note offering of Bristol-Myers Squibb Co.

There is no change to Bristol's existing ratings, including the A2 senior unsecured rating and Prime-1 commercial paper rating.

The outlook is negative.

Proceeds of the notes are for general corporate purposes, which may include repayment of commercial paper.

"Acceleration in the ongoing Eliquis launch and successful development of pipeline candidate nivolumab will be critical to offset 2015 revenue declines stemming from patent expirations," Moody's senior vice president Michael Levesque said in a news release.

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