Pfizer decides against split-up; more deals seen likely
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Fitch Affirms Ratings on Pfizer (PFE) Amid Decision to Remain Whole
September 27, 2016 11:51 AM UTCThe added diversification that Pfizer Inc.'s (NYSE: PFE) established pharmaceuticals business provides is a relatively less important driver of its credit profile than the company's business development and capital structure, according to Fitch Ratings.
On Monday, Pfizer said it would not be splitting into two companies, delivering its decision to investors as promised prior to the end of the year. However, relative operating prospects and valuations of the two segments could... More
Moody's Affirms Pfizer's (PFE) Ratings Amid Decision Not to Split Company
September 26, 2016 2:12 PM UTCMoody's Investors Service ("Moody's") affirmed the ratings of Pfizer Inc. (NYSE: PFE) and related subsidiaries, including the A1 senior unsecured long-term rating and the Prime-1 commercial paper rating. At the same time, Moody's revised the rating outlook to stable from negative. This rating action follows the announcement that Pfizer will not pursue a split of its pharmaceutical business.
"Pfizer's decision to keep the business whole removes a key overhang to the credit profile because a split had credit negative implications," stated Michael Levesque, Moody's Senior Vice President.
"The stable rating outlook... More
