Moody's Raises Boston Scientific Credit Rating
Moody's Investors Service has upgrade Boston Scientific Corp.'s corporate credit rating to an investment-level grade with a stable outlook, the Natick-based medical device manufacturer announced.
BSX said Moody's has given it a Baa3 rating. Last summer, Fitch Ratings raised its rating on the company to BBB- with a stable outlook. Standard & Poor's has given BSX a similar rating, Boston Scientific said.
Improvements in credit ratings help lower a company's future borrowing costs.
"We are pleased to achieve an investment grade rating from all three major credit rating agencies, recognizing the strength of our balance sheet, strong cash flow," recent product launches and other signs of progress in the company, said Jeff Capello, the company's executive vice president and CFO.
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