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20.02.2014 16:16:00

Medtronic, Inc. -- Moody's assigns A2 to Medtronic's new sr notes; outlook stable

New York, February 20, 2014 -- Moody's Investors Service assigned an A2 rating to Medtronic, Inc.'s new senior unsecured note offering expected to total $1.5 to $2.0 billion. The rating outlook is stable. Medtronic's existing A2 senior unsecured and Prime-1 short-term ratings remain unchanged. Proceeds will be used to refinance $550 million in bonds that mature in March, and term out short-term borrowings used to fund acquisitions and shareholder initiatives that exceeded available US cash.

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