Standard & Poor's Ratings Services affirmed its 'BBB' corporate credit and senior unsecured debt ratings on Beckman Coulter Inc. and removed them from CreditWatch where they had been placed with negative implications on March 26, 2007. The outlook is negative.
"These actions reflect the company's decision to exit the bidding war for unrated BioSite Inc., refusing to raise its $90.00 per share cash offer," explained Standard & Poor's credit analyst David Lugg. "This would have translated into a total price of more than $1.4 billion."
