S&P: Cardinal Health unchanged

Standard & Poor's said that its ratings and outlook on Cardinal Health Inc. (BBB+/stable/A-2) are not affected at this time by the company's announcement that it will spin-off its clinical and medical products businesses in mid-2009.

The agency said that its decision to maintain the current ratings and outlook reflect the possibility that the remaining distribution business could be rated at the same level following the proposed spin-off.

S&P added that it believes that the loss of Cardinal's products businesses would narrow the company's focus, thereby weakening its business risk profile.

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