Moody’s rates Gilead notes A3

Moody's Investors Service said it assigned a rating of A3 to the new senior unsecured notes of Gilead Sciences, Inc.

There are no changes to Gilead's existing ratings, including the A3 senior unsecured long-term rating and provisional A3 shelf registration program.

The outlook is positive.

Proceeds will be used for general corporate purposes.

Moody’s said the A3 rating reflects Gilead’s market leadership in HIV and hepatitis-C pharmaceutical products, its very high profit margins and its strong free cash flow. Gilead's hepatitis-C drugs Sovaldi and Harvoni have had the most successful pharmaceutical product launch in history, and product sales will continue to be strong globally.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.