Merck's new CP wins S&P's top-notch short-term rating
MRK | Quote | Chart | News | PowerRating -- 17 November 2009 Acae" S&P on Monday gave its highest short-term rating
of A-1+ to the new 4(2) commercial paper (CP) programme of Merck
(NYSE:MRK), based on the strong credit characteristics of the US
pharmaceutical firm.
The agency also affirmed its AA- long-term rating on the company to
reflect its "very strong" debt-repayment capacity and underscored its
superior ability to service short-term obligations by retaining its
A-1+ short-term rating.
The agency expects the new CP programme to replace the old one and the
existing Schering-Plough Corp's programme.
The ratings on Merck are underpinned by its solid footprint as one of
the top prescription pharmaceutical companies in the world and by the
limited debt incurred to fund its USD41.1bn (EUR27.6bn) takeover of
smaller peer Schering-Plough. Moreover, the recently completed
acquisition would enhance Merck's product range that would justify a
rating upgrade in the medium term as implied by the "positive" outlook.
Comments on this story may be sent to admin@m2.com
For full details on Merck & Co (MRK) MRK. Merck & Co (MRK) has Short Term PowerRatings at TradingMarkets. Details on Merck & Co (MRK) Short Term PowerRatings is available at This Link.
- AnaptysBio announces collaboration with Merck - 02/09/10
- Critical Alerts for Merck, Lowe's, MEMC Electronic Materials, Lennar, and Kinross Gold Released by Seven Summits Research - 02/09/10
- Ligand Announces Fourth Quarter and Full Year 2009 Consolidated Financial Results - 02/09/10
- Emerging Combination Agent from Merck Will Garner Peak Year Sales of More Than $250 Million for the Treatment of Asthma - 02/08/10
- AnaptysBio Announces Strategic Collaboration with Merck & Co., Inc. - 02/08/10
- More News >>
