E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 11/3/2015 in the Prospect News Investment Grade Daily.

Moody’s affirms Zoetis

Moody's Investors Service said it affirmed the ratings of Zoetis Inc., including the Baa2 senior unsecured long-term rating and Prime-2 short-term rating.

The outlook is stable.

This action follows the announcement that Zoetis will acquire privately held Pharmaq Holding AS for approximately $765 million.

"Despite the debt-funded Pharmaq acquisition, Zoetis's efficiency initiatives will improve EBITDA, resulting in a decline in debt/EBITDA to 3.0 times over the next 12 to 18 months," Moody's senior vice president Jessica Gladstone said in a news release.


© 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.