S&P gives Zoetis notes BBB

S&P said it assigned its BBB issue-level rating to Zoetis Inc.'s proposed new senior unsecured notes. The new notes are pari passu with the company's existing senior unsecured notes, and carry the same rating as those notes.

“Our BBB corporate credit rating on Zoetis reflects its position as the largest stand-alone animal health medicine and vaccine company, strong relationship with customers, and track record of innovation and growth.” The agency said in a news release.

“These factors are partially offset by its business concentration in the smaller and competitive animal health industry.”

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