Moody's keeps Wyeth on review

Moody's Investors Service said its review for possible upgrade of the ratings of Wyeth (A3 long-term, Prime-2 short-term) remains ongoing subject to the outcome of Pfizer Inc.'s recently announced consent solicitation to amend some terms of Wyeth's bonds. Pfizer's acquisition of Wyeth closed on Thursday.

The terms of the consent solicitation include a guarantee of the Wyeth bonds by Pfizer, conditional upon a majority of existing noteholders agreeing to the consent solicitation, S&P said. Pfizer has also announced that it will deregister the Wyeth bonds and that Wyeth will no longer be required to file reports with the Securities and Exchange Commission.

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