Fitch alters Baxter outlook to negative

Fitch Ratings said it changed the outlook to negative from stable and affirmed Baxter International Inc.'s (BAX) and Baxter Healthcare SA's long-term issuer default ratings at BBB.

The agency also affirmed the senior unsecured bank facility and senior unsecured notes at BBB and gave BBB ratings to the senior unsecured term loans.

“The negative outlook considers BAX's leverage (total debt/EBITDA) will remain above its current negative sensitivity of 3x in 2023 and 2024, or longer, should macroeconomic pressures persist for longer than expected,” Fitch said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.