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S&P assigns AA to Pfizer notes
S&P said it assigned an AA issue-level rating to Pfizer Inc.'s offering of senior unsecured sterling-denominated notes due 2043.
The offering is part of the company's tender offer for cash or exchange targeting its £1.5 billion 6.5% senior unsecured notes due June 2038.
The agency said the transaction does not materially affect the company from a net leverage perspective.
The AA long-term corporate credit rating reflects the company's diverse portfolio of high-margin pharmaceuticals, with strengths in neurology, oncology and vaccines, S&P said.
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