Moody's gives American Medical notes Baa1

Moody's Investors Service said it gave a Baa1 rating to the planned euro-denominated senior unsecured notes offering by American Medical Systems Europe BV, a wholly-owned subsidiary of Boston Scientific Corp.

The Baa1 rating reflects Boston Scientific’s guarantee on the notes, the agency said.

The proceeds will be used to fund a tender offer for up to $2.5 billion of outstanding Boston Scientific debt securities and potentially other debt securities. “Moody's views the transaction as credit positive as it will be leverage neutral and will lower cash interest costs,” the agency said in a press release.

Moody's also assigned a stable outlook to AMS Europe.

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