Fitch affirms Wyeth

Fitch Ratings said it affirmed Wyeth's A- senior unsecured credit rating and F2 commercial paper rating.

The outlook is negative.

Fitch said Wyeth has taken positive steps to mitigate litigation exposure with respect to Pondimin/Redux product liability. The recent actions, specifically the acceptance of the seventh amendment to the national settlement and settlement negotiations with downstream opt-out lawyers, are favorably viewed by Fitch, despite the recent fourth-quarter charge of $4.5 billion in additional reserves encompassing the costs of these actions.

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