S&P rates Pfizer notes AA

Standard & Poor's said it assigned its AA issue-level rating to Pfizer Inc.'s proposed benchmark offering of senior unsecured notes in several tranches.

Market conditions will determine the amounts, maturities and rates of the notes, which the company issued under a previously filed S-3 shelf filing.

Pfizer's existing ratings, including the AA corporate credit rating and A-1+ rating on its commercial paper, are unchanged.

The outlook remains stable.

The company intends to use the bulk of the proceeds to refinance a maturity and prefund some upcoming maturities in February 2014.

S&P said the superior ratings on Pfizer reflect the company's "excellent" business risk profile combined with its "minimal" financial risk profile.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.