Moody’s alters Zimmer Biomet view to stable

Moody’s Investors Service said it affirmed Zimmer Biomet Holdings, Inc.’s Baa3 senior unsecured rating and revised the outlook to stable from negative.

“The revision of the outlook to stable reflects reduced risk of a sustained increase in the company’s leverage. As evidenced in recent months, when lock-down measures were lifted, patients returned to healthcare providers for elective procedures. This was evidenced by ZBH’s return to modest year-over-year revenue growth in the third quarter, despite the continuing pandemic. This supports Moody’s view that elective procedures, such as large-joint replacements, may be deferred for some time, but that most will ultimately occur,” Moody’s said in a press release.

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