Moody’s applies A1 to Pfizer notes

Moody's Investors Service said it assigned an A1 rating to new senior unsecured notes being offered by Pfizer Inc.

The outlook is stable.

There are no changes to Pfizer's existing ratings, including the A1 senior unsecured rating and the Prime-1 commercial paper rating.

Proceeds from the note offering are for general corporate purposes including repaying a portion of outstanding commercial paper.

Moody’s said the A1 senior unsecured rating reflects Pfizer's position as one of the world's largest pharmaceutical companies, strong diversity, high profitability and strong cash flow.

“Pfizer has a conservative capital structure, with over $20 billion of cash and investments and gross debt/EBITDA of about 2.2x,” the agency said in a news release.

“Key branded products like Eliquis and Lyrica will continue to grow. So too will prostate cancer drug Xtandi and breast cancer drug Ibrance. Including the impact of products facing generic competition, Pfizer will grow earnings

© 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.