Moody’s assigns Zoetis notes Baa1

Moody’s Investors Service said it assigned a Baa1 rating to the proposed senior unsecured bond offering of Zoetis Inc.

Proceeds will be used to refinance $500 million of senior notes that mature in 2020 and for general corporate purposes. Any remaining proceeds will boost near-term liquidity in light of uncertainty related to the coronavirus outbreak.

There are no changes to Zoetis’ other ratings, including the Baa1 senior unsecured rating, Moody’s said.

The outlook is stable.

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