Moody’s assigns Baa3 rating to WuXi AppTec

Moody’s Investors Service said it assigned a first-time Baa3 issuer rating to WuXi AppTec Co Ltd.

“WuXi AppTec’s Baa3 issuer rating reflects its leading market position as a contract research organization with a full-service pharmaceutical research and development (R&D) services platform, its global operations, its solid credit metrics and the strong growth prospects for the sector in China,” said Shawn Xiong, a Moody’s assistant vice president and analyst, in a press release.

The outlook is stable.

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