International credit rating agencies cut Glaxo's rating outlook to negative
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Last Update: 2013-07-31
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Source: Internet
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Author: User
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Moody's, the international credit rating agency, lowered the long-term credit rating outlook of GlaxoSmithKline, a British pharmaceutical company, from "stable" to "negative" Moody's said the downgrade had nothing to do with GlaxoSmithKline's bribery case in China, but was based on concerns about the company's capital outflow Moody's said that the change of GlaxoSmithKline's credit rating prospects was mainly due to the excessive cost of its debt acquisition of U.S human genome science company Although the rating outlook has been downgraded to "negative", Moody's still maintains GlaxoSmithKline's long-term credit rating of A1 In response to Moody's downgrade, GlaxoSmithKline said the company felt "relaxed" about the adjustment, which would not affect its ability to raise funds through the capital market GlaxoSmithKline is headquartered in the UK, with branches in more than 100 countries around the world, with an annual output of 4 billion boxes of drugs and products in the global market This month, some GlaxoSmithKline executives were investigated by the Ministry of public security on suspicion of serious economic crimes.
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