Fitch affirms Merck

Fitch Ratings said it affirmed Merck & Co., Inc.'s ratings as follows: long-term issuer default rating at A+; senior unsecured debt rating at A+; bank loan rating at A+; short-term issuer default rating at F1; and commercial paper rating at F1.

Simultaneously, Fitch said it has withdrawn Schering-Plough Corp.'s long-term issuer default rating of A+. Moreover, Merck's preferred stock rating of A- has been withdrawn following the paydown of the outstanding balance in August.

The outlook is stable.

According to the agency, Merck effectively mitigated exposure to key drug patent expiry through the long-term with the merger with Schering-Plough in November 2009.

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