Moody’s gives American Medical notes Baa1

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

All other ratings for AMS Europe, including the Baa1 ratings on its outstanding senior unsecured notes, and Boston Scientific Corp. remain unchanged, the agency said.

Boston Scientific will use the proceeds to partially fund the $3.4 billion acquisition of Axonics, Inc., in conjunction with commercial paper and cash on hand. The acquisition is subject to Axonics' shareholder approval as well as required regulatory reviews and is expected to close in the first half of 2024.

The outlook for both AMS Europe and Boston Scientific remains stable.

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