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Article: Fitch Rates Quest Diagnostics Debt Offering 'BBB+'.
- Article from:
- Business Wire
- Article date:
- November 12, 2009
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CHICAGO -- Fitch Ratings has assigned a 'BBB+' rating to Quest Diagnostics, Inc. (Quest) proposed public issuance of $750 million of 10-year, and 30-year senior unsecured notes. Proceeds from the debt offering are expected to be used for general corporate purposes, including acquisitions, and to partially pay down outstanding long-term debt. Quest's credit ratings are as follows.
--Issuer Default Rating (IDR) 'BBB+'; --Senior unsecured debt rating 'BBB+'; --Bank loan rating 'BBB+';
The Rating Outlook is Stable.
The ratings reflect Quest's leadership in independent clinical testing laboratories with an approximate 15% share of a highly ...