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Fitch changes Pfizer view
Fitch Ratings said it affirmed Pfizer, Inc.'s, Wyeth LLC's and Pharmacia Corp.'s (collectively, Pfizer) ratings, including their long-term issuer default ratings and senior unsecured ratings at A.
Fitch also revised Pfizer's outlook to positive from stable.
In addition, Fitch affirmed Pfizer's short-term issuer default rating and commercial paper ratings at F1.
“The positive outlook reflects the company's reduction of leverage (total debt/EBITDA) to 1.0x at July 3, 2022 from 2.2x at July 4, 2021,” the agency said in a news release.
“The reduction in leverage was largely driven by a significant increase in EBITDA facilitated by increases in revenues related to Covid-19 and key growth products.
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