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S&P rates Johnson & Johnson notes AAA
Standard & Poor's said it assigned its premier AAA rating to Johnson & Johnson's proposed €500 million and £300 million of notes to be issued in maturities determined by market conditions.
The agency said it expects the proceeds of these borrowings to be used to repay commercial paper.
At the same time, S&P said it affirmed its AAA corporate credit and senior unsecured ratings and the A-1+ commercial paper rating.
The outlook remains stable.
The premier AAA rating on Johnson & Johnson reflects its leading market positions in a vast array of health care markets, long and successful acquisition experience and steady ability to generate cash well in excess of internal needs, the agency noted.
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