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Fitch Rates Cardinal Health's $1.5B Bond Issuance 'BBB+'; Outlook Stable

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CHICAGO--(BUSINESS WIRE)--Fitch Ratings has assigned a 'BBB+' rating to the $1.5 billion bond issuance by Cardinal Health, Inc. (Cardinal; NYSE: CAH). Proceeds are expected to be used to help fund recently announced acquisitions, including the $1.9 billion acquisition of Cordis from Johnson & Johnson (NYSE: JNJ) and the $1.1 billion purchase of the Harvard Drug Group (Harvard). Cash on hand will fund the remainder of the acquisition costs. Cardinal's acquisition of Harvard has strong strate

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