Moody's assigns Baa1 to Zoetis notes

Moody's Investors Service said it assigned a Baa1 rating to Zoetis Inc.’s upcoming senior unsecured bond offering.

There are no changes to Zoetis' other ratings including the Baa1 senior unsecured rating, Moody’s said.

Zoetis will use the proceeds to refinance $1.35 billion of senior notes due in February. Any remaining proceeds will be used for general corporate purposes. “Moody's considers the offering a credit positive as Zoetis will lengthen its overall debt maturity profile while remaining leverage neutral,” the agency said in a press release.

The outlook is stable.

© 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.