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Article: Fitch Assigns Initial 'BBB+' IDR to Quest Diagnostics; Outlook Stable.
- Article from:
- Business Wire
- Article date:
- August 14, 2009
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CHICAGO -- Fitch Ratings has assigned the following initial ratings to Quest Diagnostics, Inc. (Quest):
--Issuer Default Rating (IDR) 'BBB+';
--Senior unsecured debt rating 'BBB+';
--Bank loan rating 'BBB+'.
The ratings apply to $3.08 billion of outstanding debt. The Rating Outlook is Stable.
The ratings reflect Quest's leadership in independent clinical testing laboratories with an approximate 15% share of a highly fragmented clinical diagnostic testing market. The leadership position allows the company to leverage its large asset base for more favorable outcomes during contract negotiations with payers. Quest mitigates the ...