Moody's: GlaxoSmithKline view to stable

Moody's Investors Service said it changed the outlook to stable from negative on the A1 long-term rating of GlaxoSmithKline plc.

The outlook revision reflects expectations of continued strong cash flow generation over the intermediate term supported by higher visibility in terms of future revenues compared to some of its peers, which face a more imminent patent cliff, Moody's said.

The rating also takes into account the company's diversification strategy, the agency said.

The stable outlook is underpinned by its excellent business profile, featuring large-scale diversification and generic challenges that are expected to diminish over the short term, Moody's added.

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