Moody’s rates Alcon Baa2

Moody's Investors Service said it assigned a Baa2 long-term issuer rating to Alcon Inc.

The outlook is stable.

Alcon is being spun off from Novartis AG (A1 stable).

The agency said the ratings mainly reflect the company’s leading positions in eye care products and devices with global reach and well-known brands, supportive volume trends offset by regulatory constraints and downward price pressures, solid credit metrics supported by adjusted leverage trending towards 2.5 times and degree of execution risk related to the spin-off, with separation costs reducing cash flow.

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