Moody's changes outlook on GlaxoSmithKline to stable

Moody's Investors Service said it changed to stable from negative the outlook on the A2 ratings of GlaxoSmithKline plc and affirmed all the ratings of the company and its guaranteed subsidiaries.

“Our decision to stabilize the outlook on GSK's A2 rating reflects the company's continued deleveraging and operating performance improvements,” said Knut Slatten, a vice president – senior analyst at Moody's, in a news release. “Moreover, the stabilization of the outlook also reflects GSK's commitment to strengthen its credit profile and protect its short-term (P)Prime-1 rating.”

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