Moody's: Wyeth view stable

Moody's Investors Service said it affirmed Wyeth's A3 senior unsecured long-term debt rating and its Prime-2 short-term debt rating for commercial paper.

The outlook was revised to stable from positive.

Moody's said the revised outlook reflects the recent launch of generic versions of Protonix.

"The launch of generic Protonix elevates Wyeth's credit risk profile not only because of reduced cash flow, but because of higher event risk related to acquisitions or share repurchases," Michael Levesque, senior vice president at Moody's, said in a written statement.

The affirmation reflects Wyeth's strong operating profile, its strong margins and return, its healthy cash coverage of debt and its diversity across therapeutic categories and products, the agency said.

Key risk factors include relatively high exposure to patent expirations over the next three years and continuing legal uncertainties, Moody's said.

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