Cardinal Health, Inc. -- Moody's rates Cardinal Health's new notes Baa2; outlook stable

New York, June 16, 2015 -- Moody's Investors Service assigned a Baa2 rating to Cardinal Health, Inc.'s (Cardinal's) new $1.5 billion senior unsecured note offering. Proceeds from this offering will be used to partially finance its planned $1.944 billion Cordis and $1.115 billionHarvard Drug Group (HDG) acquisitions. Cardinal will also fund both acquisitions with roughly 50% of its existing cash. Cordis (a division of Johnson & Johnson) manufactures lower innovation cardiovascular products, while HDG is a privately owned telemarketing distributor of generic drugs and over the counter products. All of Cardinal's existing ratings remain unchanged.

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