S&P rates Serono A-

Standard & Poor's said it assigned its A- long-term corporate credit rating to Serono SA.

The outlook is stable.

The ratings reflect the group's strong market positions in the multiple sclerosis and reproductive health treatment areas, good pipeline prospects, conservative financial policies and strong free cash flow generation capacity, S&P said.

The ratings also reflect a lack of significant therapeutic and product diversity and under-representation in the U.S. market, which will only improve over time, the agency added.

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