Fitch rates Pfizer notes A+

Fitch Ratings said it assigned an A+ rating to Pfizer Inc.'s senior unsecured note offering.

The company intends to use the net proceeds of the issuance for general corporate purposes including the refinancing of outstanding debt.

The agency said that Pfizer's A+ rating reflects the favorable aspects of the company's operating profile relative to innovative pharmaceutical industry peers Eli Lilly and Bristol Myers in terms of scale, breadth, depth, geographic reach and patent risk.

Pfizer's intermediate-term patent risk in terms of sales at risk is relatively benign and an advancing pipeline will offset some sales losses, supporting the prospects for operational and financial stability, Fitch said.

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