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