Fitch cuts AstraZeneca, debt to A

Fitch Ratings said it downgraded AstraZeneca plc's long-term issuer default rating and senior unsecured rating to A from A+.

The outlook on the issuer default rating is stable.

Fitch said the downgrade reflects the acceleration of investments in AstraZeneca’s science base by way of a series of acquisitions and R&D, as well as operational efficiencies at a time of growing near-term pressure on sales and profitability from loss of patent of key drugs As a result, the agency observes an increase in business and financial risks and a profile more commensurate with an A rating, compared with industry peers.

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