Moody's may cut Pfizer

Moody's Investors Service said it placed the Aa1 long-term ratings of Pfizer Inc. under review for possible downgrade.

In addition, Moody's said it placed the A3 long-term and Prime-2 commercial paper ratings of Wyeth under review for possible upgrade.

Simultaneously, Moody's added that it affirmed Pfizer's Prime-1 commercial paper rating.

These rating actions follow the announcement that Pfizer will acquire Wyeth for about $50.19 per share, expected to close during the third or fourth quarter of 2009, the agency said.

The rating review will consider the final capital structure at close, including cash and debt levels, terms of new debt instruments, and the liquidity profile, the agency added.

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