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Boston Scientific's Credit Rating Slashed

Almost immediately after closing its deal to acquire Gudiant Corp., Boston Scientific Corp. found its credit rating cut to barely above junk status by the three major credit rating agencies, the Associated Press wrote in a report available on . The move could make it harder for the firm to borrow money in the future.

Moody's Investors Service, Standard & Poor's, and Fitch Ratings made the rating cut because of the debt Boston Scientific is taking on to finance the deal, and because of the legal liability it inherits from Guidant over faulty internal cardioverter-defibrillators. We probably won't be seeing Boston Scientific buying anything else for a while.

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