S&P: Merck unaffected

Standard & Poor's said its ratings and outlook on Merck & Co. Inc. (AA-/negative/A-1+) remain unchanged following the company's disclosure of potential U.S. and Canadian tax liabilities totaling $5.58 billion.

The agency said that the amount relates to four different disputes dating as far back to 1993 and Merck is contesting the amount.

According to S&P, the timing and magnitude of an ultimate settlement is highly uncertain.

Merck has continued to perform and the company's cash flows and financial profile remain robust, the agency noted.

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