Moody's Upgrades Shire Outlook To Positive, Affirms Baa3 Issuer Rating

20th Mar 2018 18:34

LONDON (Alliance News) - Moody's Investors Service on Tuesday affirmed the Baa3 issuer rating of Irish pharmaceutical company Shire PLC and the Baa3 senior unsecured ratings of rated subsidiaries including Shire Acquisitions Investments Ireland Designated Activity Co and Baxalta Inc

The ratings agency also revised the company's rating outlook to positive from stable.

The change in ratings reflects Moody's expectations for solid operating performance and continuing debt reduction at Shire.

"The revision in the rating outlook to positive from stable reflects improving financial flexibility from recent deleveraging, and the potential for further deleveraging over the next 12 to 18 months," said Moody's Senior Vice President Michael Levesque.

Shire shares closed up 0.1% at 3,084.00 pence.

---

Related Shares:

Shire