Fitch gives Sanofi-Aventis AA- senior rating

Fitch Ratings said it has assigned Sanofi-Aventis SA a senior unsecured rating of AA- and a short-term rating of F1+.

The outlook is stable.

Fitch said the ratings reflect Sanofi-Aventis' excellent market position as the third largest player in the global pharmaceuticals market, its strong research and development capability and its good product pipeline.

It also reflects the group's relatively small percentage of sales at risk from generic competition, above-average product diversification and large sales force, Fitch said.

Conversely, the ratings are constrained by Sanofi-Aventis' under-representation in the U.S. market and the group's weakened financial profile following the heavily debt-financed acquisition of Aventis in August 2004, Fitch said.

© 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.