Fitch Ratings Affirms Boston Scientific's IDR At 'BBB-'; Outlook Stable

(RTTNews) - Fitch Ratings said Wednesday that it has affirmed Boston Scientific Corp.'s (BSX) long-term IDR at 'BBB-' with a Stable Outlook.

The rating action applies to about $4.25 billion of debt.

Fitch said it expects Boston Scientific will operate with relatively stable leverage of 2.3x-2.5x during the next 12 months, despite a challenging operating environment. However, current leverage of 2.44x at March 31, 2014 leaves only modest flexibility within the company's 'BBB-' rating category.

Fitch forecasts that Boston Scientific's improving operational performance will generate consistently solid free cash flow, given relatively manageable CAPEX requirements. The company is expected to maintain adequate liquidity through revolver availability and access to the capital markets.