21.01.2015 19:00:00

Laboratory Corporation of America Holdings -- Moody's rates LabCorp's sr. unsecured notes Baa2; outlook is negative

New York, January 21, 2015 -- Moody's Investors Service assigned a Baa2 rating to Laboratory Corporation of America Holdings' (LabCorp) proposed offering of an aggregate $2.9 billion of senior unsecured notes maturing 2020, 2022, 2025 and 2045. Proceeds of the offering will be used to fund a portion of the previously announced acquisition of Covance, Inc. The Baa2 ratings on LabCorp's existing senior unsecured debt are unchanged. The rating outlook remains negative.

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