Moody's pumps up Pfizer

Moody's Investors Service said it upgraded Pfizer Inc.’s senior unsecured long-term ratings and certain subsidiaries to A1 from A2 and revised the outlook to stable from positive.

"The rating upgrade reflects Moody's expectations for a continuation of very strong global scale, high earnings and solid cash flow that will allow Pfizer to fund business development while maintaining solid credit ratios," stated Michael Levesque, a Moody’s senior vice president, in a press release.

The agency said the stable outlook reflects a forecast for Pfizer’s credit metrics to contract as Covid-related sales decline and the possibility of potential debt increases to fund acquisitions.

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