Moody’s Boosts Boston Scientific Debt Rating (BSX)

Ratings agency Moody’s has raised the debt rating of Boston Scientific Corp. (NYSE: BSX) from ‘Ba1’ to ‘Baa3’ with a stable outlook. The new rating applies to new senior unsecured debt and to shares already included in the company’s last shelf registration.

According to Moody’s:

Boston Scientific’s commitment to lower leverage and cost-cutting initiatives should provide it with sufficient cushion to withstand ongoing pressures in its core markets. Furthermore, patent litigation risk continues to wind down, as recent developments appear to weigh in Boston Scientific’s favor.

The ratings agency also viewed the appointment of a new president (soon to be CEO) as a positive development.