Fitch Rates CareFusion Corp.'s Proposed Debt Offering 'BBB'; Expects to Assign 'BBB' Upon Spin-Off

Tue Jul 14, 2009 10:32am EDT
 
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CHICAGO--(Business Wire)--
Fitch Ratings has assigned a 'BBB' rating to CareFusion Corp.'s (CFN's) proposed
debt offering. Fitch also expects to assign the following ratings to CFN, upon
its spin-off from Cardinal Health Inc. (CAH). 

--Issuer Default Rating (IDR) 'BBB'; 

--Short-term IDR 'F2'; 

--Commercial paper 'F2'; 

--Bank facilities 'BBB'; 

--Senior unsecured Debt 'BBB'; 

--Rating Outlook Stable. 

The assignment of the bond offering rating and the expected ratings reflect
Fitch's assumption that the transaction will take place and the general
parameters of key financial metrics will hold. Expected ratings are based on
information received and could change if, for any reason, there are material
changes in terms, documents, financial projections or actual results of
operations. 

Fitch will provide analytical detail supporting the above expected ratings as
the transaction nears closing. 

Fitch's rating definitions and the terms of use of such ratings are available on
the agency's public site, www.fitchratings.com. Published ratings, criteria and
methodologies are available from this site, at all times. Fitch's code of
conduct, confidentiality, conflicts of interest, affiliate firewall, compliance
and other relevant policies and procedures are also available from the 'Code of
Conduct' section of this site. 





Fitch Ratings
Bob Kirby, CFA, 312-368-3147
Lauren Coste, 312-606-2320 (Chicago)
Media Relations:
Cindy Stoller, 212-908-0526 (New York)
cindy.stoller@fitchratings.com



Copyright Business Wire 2009

 

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