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Moody’s cuts Gilead Sciences to stable
Moody's Investors Service said it affirmed the ratings of Gilead Sciences, Inc., including the A3 senior unsecured ratings and revised the outlook to stable from positive.
"The success of Gilead's hepatitis-C products has strengthened the company's financial flexibility, resulting in strong cash flow and low financial leverage," Moody’s senior vice president Michael Levesque said in a news release.
"However, upward rating pressure has been reduced by declining U.S. hepatitis-C trends and the event risk associated with large acquisitions."
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