02.06.2016 00:05:00
|
AbbVie Inc. -- Moody's downgrades AbbVie to Baa2; stable outlook
New York, June 01, 2016 -- Moody's Investors Service downgraded the senior unsecured ratings of AbbVie Inc. ("AbbVie") to Baa2 from Baa1. This concludes a rating review for downgrade initiated on April 28, 2016 when AbbVie announced that it would acquire Stemcentrx Inc. for $5.8 billion. At the same time, Moody's affirmed AbbVie's Prime-2 rating on commercial paper obligations. Moody's also converted provisional ratings of (P)Baa2 assigned on May 9, 2016 to definitive ratings of Baa2. Following these actions, the rating outlook is stable.