S&P assigns BBB to Zoetis notes

S&P said it assigned its BBB issue-level rating to Zoetis Inc.'s proposed senior unsecured notes.

“Our BBB issuer credit rating on Zoetis reflects our expectation that the company's leverage will remain between 2x-3x and that it will continue generating strong discretionary cash flow, which we estimate at about $1 billion this year, S&P said in a news release.

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