Our 'A' rating on AbbVie Inc. is derived from: Our anchor of 'aa-', based on our "strong" business risk and "minimal" financial risk profile assessments for the company. We applied a downward adjustment of one notch for fair management and governance, based on our view that Abbvie has a short track record as a stand-alone company. We also applied a downward adjustment of one notch for a comparable rating analysis, reflecting the company's high dependence on a single product compared with other similarly rated peers. Continued growth of its top product, Humira, because of additional uses and an expanding pool of patients; Drug pipeline could provide topline growth in the longer term; and High dependence on a single product. Strong
