Fitch Rates Amgen Inc. Notes Offering 'BBB'; Outlook Stable

CHICAGO–(BUSINESS WIRE)–Fitch Ratings has assigned a ‘BBB’ rating to Amgen Inc.’s (Amgen) notes offering. The company intends to use the net proceeds from this offering to repay select outstanding notes. The Rating Outlook is Stable. The ratings apply to $34.5 billion of debt outstanding at Mar. 31, 2016. A full list of Amgen’s ratings can be found at the end of this release. KEY RATING DRIVERS –At 3.1x gross debt-to-EBITDA, Amgen’s gross debt leverage is at the high end of the range for its
Source: BusinessWire-Primary

Fitch Rates Amgen Inc. Notes Offering 'BBB'; Outlook Stable