S&P affirms Zoetis

Standard & Poor's said it affirmed its BBB- corporate credit rating on Zoetis Inc. following the company's announcement of its proposed acquisition of Pharmaq Holding AS.

The outlook is stable.

The agency also affirmed its BBB- rating on the company's senior unsecured debt.

“The ratings affirmation reflects our view that Zoetis' business and financial risk profiles will not change as a result of the announced acquisition,” S&P credit analyst Maryna Kandrukhin said in a news release.

In addition, despite the somewhat larger transaction size, the agency continues to believe that the company remains committed to its relatively conservative financial policy.

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