S&P shifts AstraZeneca view to positive

S&P said it revised AstraZeneca plc’s outlook to positive from stable and affirmed the BBB+ ratings.

“AZ’s sales have bounced back since third-quarter 2018 following several years of declines. In our opinion, the group is experiencing a long-term and sustainable positive trend thanks to a number of innovative drugs, which all enjoy strong growth prospects: Tagrisso, Lynparza, and Imfinzi in oncology as well as Farxiga in cardiovascular,” S&P said in a press release.

The outlook indicates the agency could raise its ratings to A- next year if AstraZeneca’s new drugs continue to perform strongly, paving the way for sustainable deleveraging below 3x, S&P said.

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