Moody’s rates Zoetis notes Baa2

Moody's Investors Service said it assigned a rating of Baa2 to the new senior unsecured notes of Zoetis Inc.

There are no changes to Zoetis' other ratings, including the Baa2 senior unsecured long-term rating.

The outlook is stable.

Proceeds will be used to fund the acquisition of privately held Pharmaq Holding AS for $765 million, an upcoming $400 million debt maturity and for general corporate purposes.

Moody’s said the Baa2 rating reflects Zoetis' strong position as the world's largest animal health company and its good business diversity across geographic regions, therapeutic categories, species and products. Fundamentals for the animal health sector will remain positive, driven by population growth, improving standards of living, and rising demand for protein products.

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