Moody's affirms Wyeth

Moody's Investors Service said it affirmed the Baa1 long-term rating and Prime-2 short term rating of Wyeth.

This rating action follows Wyeth's recent announcement that it has increased its diet drug litigation reserves by $4.5 billion, bringing total charges taken to date to $21.1 billion.

Following this rating action, the outlook is revised to developing from negative. Moody's said it anticipates that the outlook may be moved to stable if Wyeth is successful in executing the proposed seventh amendment to the National Settlement Trust.

© 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.