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DUFF & PHELPS RATES BAXTER INTERNATIONAL ISSUE

 CHICAGO, Feb. 4 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned a rating of "A" (Single-A) to Baxter International's $200 million issue of 7-1/4 percent non-callable notes due Feb. 15, 2008. This rating is identical to our existing rating of Baxter's senior unsecured debt.
 Our rating reflects Baxter's strong operating cash flows which are derived from a diversified portfolio of health care products and services. The company's strengths include the industry's broadest line of products for hospitals at a time when hospitals are trying to cut costs by narrowing their supplier base and strategic alliances aimed at developing emerging new markets. Baxter's recent spin-off to shareholders of its Caremark alternate-site health care business should help the company avoid future conflicts with its core customer base, and its acquisition of Stuart Medical, a closely-held medical products distribution business, is likewise aimed at building its core distribution business. While the current pressures on health care costs are a minor risk factor in Baxter's outlook, we see this problem as primarily affecting drug companies rather than distribution companies within the industry.
 -0- 2/4/93
 /CONTACT: William T. Hayes, CFA of Duff & Phelps, 312-368-3142/
 (BAX)


CO: Baxter International ST: Illinois IN: MTC SU: RTG

TS -- NY065 -- 2956 02/04/93 11:58 EST
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Publication:PR Newswire
Date:Feb 4, 1993
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