Boston Scientific receives upgraded credit rating from Moody’s

Boston Scientific has been granted an upgraded corporate credit rating from Moody's Investors Service, based on the strength of its infrastructure.

The medical technology firm has been assigned an investment-grade rating of Baa3 with a stable outlook, thanks to improvements to its balance sheet and cash flow, as well as its success in driving value with its Power strategy.

Fitch Ratings and Standard and Poor's rate the company's corporate credit at BBB- with a stable outlook, meaning all three of the major credit rating agencies have now given Boston Scientific an investment-grade rating.

Jeff Capello, executive vice-president and chief financial officer of Boston Scientific, said the organisation's recent drug-eluting stent and cardiac rhythm management product launches have also contributed to this.

For example, the company launched its new TruePath CTO Device for treating peripheral artery blockages last week.

"We remain committed to a strong capital structure and improved profitability, while retaining the capacity to fund investments in our priority growth initiatives and other programmes to increase shareholder value," Mr Capello added.