Moody’s rates Thermo Fisher bond Baa3

Moody's Investors Service said it assigned a Baa3 rating to the recently issued €425 million senior unsecured bond of Thermo Fisher Scientific Inc.

Proceeds will be used to refinance upcoming maturities of existing debt.

The outlook remains positive.

Moody’s said the Baa3 rating is supported by Thermo Fisher's significant scale and leading market position in the life science industry. The rating also reflects the stability of the company's revenue and cash flow, due to the diversity of products and end-user markets, as well as from the recurring nature of about two-thirds of revenue, which is generated from the sale of consumables and services.

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