Moody's rates AbbVie notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to the new senior unsecured note offering of AbbVie Inc., the branded biopharmaceutical company being spun out of Abbott Laboratories.

The outlook is stable.

"AbbVie's Baa1 rating reflects the blockbuster success of Humira and the product's good growth outlook, offset by higher leverage and greater product concentration risk than pharmaceutical peers," Moody's senior vice president Michael Levesque said in a news release.

© 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.