Fitch assigns Covidien notes A

Fitch Ratings said it has assigned an A rating to Covidien plc's $500 million of 1.875% senior unsecured notes due 2013, $400 million of 2.8% senior unsecured notes due 2015 and $600 million of 4.2% senior unsecured notes due 2020.

Covidien's existing ratings are as follows: long-term issuer default rating A; short-term issuer default rating F1; commercial paper program F1; credit facility A; and senior unsecured notes A.

The outlook is stable.

The new notes are general unsecured obligations issued by Covidien International Finance SA and guaranteed by Covidien plc and Covidien Ltd., Fitch said, adding that it expects the proceeds will be used to partially fund the company's $2.6 billion acquisition of ev3, Inc.

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