S&P rates Pfizer notes AAA

Standard & Poor's said it assigned its AAA rating to Pfizer Investment Capital plc's $1 billion monthly extendible notes, which initially mature Dec. 15, 2006 but can be extended in one-year increments by the investor to Dec. 15, 2010. Pfizer Inc. guarantees the notes on a senior unsecured basis, S&P said.

Existing ratings on Pfizer, including the AAA long-term corporate credit rating and A-1+ short-term rating, were affirmed. The A-1+ commercial paper rating also was affirmed.

The outlook is stable.

The ratings also reflect the company's superior financial profile and cash generating ability, S&P said.

The ratings reflect Pfizer's excellent position in the worldwide pharmaceutical market, highlighted by its diverse drug portfolio and deep product pipeline, S&P said.

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