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 intends to issue in multiple tranches.

AMS is a wholly owned financing subsidiary of Boston Scientific Corp., rated BBB+, which will guarantee the notes on a senior unsecured basis.

Boston Scientific plans to use the proceeds, along with cash on hand and commercial paper borrowings, mainly to fund its previously announced $3.7 billion acquisition of Axonics, expected to close by mid-2024. Any remainder will be used to retire upcoming debt maturities.

The outlook is stable.

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