Fitch lowers Pfizer

Fitch Ratings said it downgraded Pfizer Inc.'s ratings as follows: long-term issuer default rating to A+ from AA-; senior unsecured debt rating to A+ from AA-; bank loan rating to A+ from AA-; short-term issuer default rating to F1 from F1+; and commercial paper rating to F1 from F1+.

The ratings apply to about $41.7 billion of debt, the agency said, adding that the outlook is revised to stable from negative.

According to Fitch, Pfizer has shown some financial discipline by reducing the debt load that nearly tripled with the $68 billion acquisition of Wyeth in October 2009.

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