Fitch revises Pfizer to negative

Fitch Ratings said it affirmed Pfizer Inc.'s long-term issuer default rating at A+ and revised the outlook to negative.

The action reflects an extended period of high gross debt leverage relative to the rating resulting from the company's acquisitive posture and material share repurchases, the agency explained.

The ratings apply to roughly $43.3 billion of debt outstanding at April 2.

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