U.S.-based pharmaceutical company Bristol-Myers Squibb Co. raised $7 billion in debt to fund the MyoKardia Inc. acquisition. The balance of the $13.1 billion purchase price will be funded with cash. We are affirming our 'A+' issuer credit rating on Bristol-Myers Squibb. We are revising our liquidity assessment to strong from exceptional. We are lowering our short-term rating to 'A-1', reflecting the revised liquidity assessment and 'A+' issuer credit rating. The outlook is negative, reflecting currently weak credit metrics for the rating. On Nov. 10, 2020, S&P Global Ratings affirmed its 'A+' issuer credit rating on Bristol-Myers Squibb. We revised our liquidity assessment to strong from exceptional, reflecting a lower cash balance as a result of the transaction. The company plans
