S&P assigns American Medical notes BBB

S&P said it assigned a BBB issue-level rating to American Medical Systems Europe BV's planned offering of euro-denominated senior unsecured notes, which it will issue in multiple tranches. AMS is a wholly owned financing subsidiary of Boston Scientific Corp., which will guarantee the notes on a senior unsecured based.

Boston Scientific plans to use the proceeds, along with on-hand cash, to mainly fund the redemption of outstanding debt, and to pay fees, expenses and other costs associated with the repayment. The company will use remaining proceeds to repay other indebtedness and for general corporate purposes.

“We view the transaction as neutral for leverage,” S&P said in a press release.

The outlook is positive.

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