Fitch stabilizes Pfizer view

Fitch Ratings said it affirmed Pfizer, Inc.'s A issuer default rating and revised the outlook to stable from negative.

“The revision to a stable outlook reflects the company's reduction of leverage (total debt/EBITDA) to 2.2x at July 4, 2021 from 3.3x at June 28, 2020 and the expectation that it will sustain at or below these levels through the rating horizon even as coronavirus vaccine benefits moderate over time. The reduction in leverage was largely driven by the reduction of debt that was moderately offset by a reduction in EBITDA largely driven by the loss of EBITDA from Upjohn,” 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.