Law & Health Weekly
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Fitch Ratings
Fitch Rates Cardinal Health's $300MM Sr Unsec Notes Offering 'BBB+'
June 14th, 2008
Fitch has assigned a 'BBB+' rating to Cardinal Health's (NYSE: CAH) $300 million senior unsecured notes offering. This is a SEC registered offering. The company intends to use the proceeds from the issuance for general corporate purposes, which may include repayment of indebtedness, working capital, capital expenditures, acquisitions, investments, and repurchases of equity securities. CAH is facing challenges in the Pharmaceutical Supply Chain Services (PSC) segment of its Healthcare Supply Chain Services sector. Although CAH's other three business segments are performing fairly well, PSC accounts for approximately 50% of operating income. The underperformance of the...
Source: Law & Health Weekly (2008-06-14)
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