St. Jude Medical Inc. Ratings Removed From CreditWatch Negative

Stocks and Financial Services Press Releases Tuesday April 17, 2018 12:22
TORONTO--17 Apr--S&P Global Ratings

TORONTO (S&P Global Ratings) April 17, 2018—S&P Global Ratings said today that it had removed its 'BBB' issuer credit rating and debt issue ratings on St. Jude Medical Inc. from CreditWatch with negative implications.

On Aug. 18, 2017, we affirmed and removed the 'BBB' issuer credit and senior unsecured debt ratings from CreditWatch with negative implications on St. Jude's parent company Abbott Laboratories. Due to an error, we did not remove the CreditWatch listing on the ratings on St. Jude following the rating actions on the parent in August 2017. We consider St. Jude as a core member of the Abbott group following its acquisition by Abbott in January 2017. In accordance with our criteria, the issuer credit rating on St. Jude should be equivalent to the rating on Abbott and its core subsidiaries.

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