Bayer AG had its outlook lowered to negative from stable by Moody’s Investors Service following a series of drug pipeline and legal setbacks that have sent its shares and bonds tumbling.
The change of outlook on the pharma, agriculture and consumer health conglomerate’s Baa2 rating reflects the “potential credit impact of an accumulation of credit negative events” in the second half of 2023, according to a statement from the ratings agency on Friday.
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