S&P equalizes Mead Johnson Nutrition ratings

S&P said it affirmed its A- long-term and A-2 short-term issuer credit ratings on Reckitt Benckiser Group plc. The outlook is stable.

At the same time, the issuer credit rating on the group's subsidiary Mead Johnson Nutrition Co. has been equalized with the rating on the holding company, and thus moved to A- from BBB+.

The rating on the senior unsecured notes issued by Mead Johnson remains unchanged at A-, since S&P raised this rating on June 15, 2017, in line with the ratings on Reckitt Benckiser, on the basis of the guarantees provided by Reckitt Benckiser on this debt.

“The decision to equalize the issuer credit rating on Mead Johnson reflects our view that Mead Johnson is now a core subsidiary of the Reckitt Benckiser group,” S&P said in a news release.

© 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.