Moody’s upgrades Merck’s credit rating to “A3” with stable
08-Jul-2013
- Germany
Moody’s Investors Service raised Merck’s long-term issuer rating to “A3” from “Baa1” with stable outlook.
Moody’s noted in its report: “The upgrade takes into account the group’s well-executed cost-efficiency initiatives, which have recently contributed to a stronger cash conversion.”
“After Merck received the ‘A’ rating from Standard & Poor’s in May, we are proud of this second upgrade in such a short period of time,” said Matthias Zachert, Merck’s Chief Financial Officer. “It is a clear recognition and acknowledgement that Merck is on the right track.”
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