U.S. Markets closed

Abbott Laboratories -- Moody's upgrades Abbott Laboratories' senior unsecured rating to Baa1, outlook remains positive

Moody's Investors Service ("Moody's") today upgraded Abbott Laboratories' ("Abbott") senior unsecured rating to Baa1 from Baa2. "The upgrade reflects the company's continued progress deleveraging since the 2017 acquisitions of St Jude Medical and Alere," stated Scott Tuhy, a Senior Vice President at Moody's. Moody's expects that Abbott's debt/EBITDA will approach 3 times by the end of 2018.