Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Bristol-Myers Squibb Co.

Summary: Bristol-Myers Squibb Co.

Published Mar 29, 2013

1624 words — Published Mar 29, 2013

Price US$ 225.00 | Buy this Report Now

About This Report

Abstract:

Excellent pharmaceutical product diversity. Strong therapeutic diversity. Recently successful R&D program. Strong profitability. Disciplined approach to acquisitions. Minimal leverage, with a debt-to-EBITDA ratio peaking at 1.3x and funds from operations (FFO) to debt above 60%. Free operating cash flow of more than $3 billion. Ample reserves of cash and investments. Our stable rating outlook on pharmaceutical company Bristol-Myers Squibb (BMS) is founded on our expectation that current and expected revenue losses from expiring patents will be temporary. Continued growth of older franchises and the strong showing by its faster-growing new products will temper the impact of the product losses. Unexpected new product failures could delay a return to revenue growth. This could subsequently prompt management to take significant shareholder-friendly actions

Brief Excerpt:

RESEARCH Summary: Bristol-Myers Squibb Co. Publication date: 29-Mar-2013 Primary Credit Analyst: David K Lugg, New York (1) 212-438-7845; david_lugg@standardandpoors.com Secondary Contact: Michael G Berrian, Boston (1) 617-530-8307;...

Report Type:

Summary

Ticker

BMY

Issuer

Bristol-Myers Squibb Co.

GICS

Pharmaceuticals (35202010)

Sector

Global Issuers , Structured Finance

Country

United States

Region

United States

Format:

HTML

Bristol-Myers Squibb Co.'s Senior Unsecured Notes Assigned 'A+' Rating – 2013/10/24 – US$ 150.00

Summary: Bristol-Myers Squibb Co. – 2014/03/14 – US$ 225.00

Summary: Bristol-Myers Squibb Co. – 2015/03/31 – US$ 225.00

Bristol-Myers Squibb Co.'s Euro-Denominated Senior Unsecured Note Issuance Rated 'A+' – 2015/04/29 – US$ 150.00

Summary: Bristol-Myers Squibb Co. – 2016/06/17 – US$ 225.00

Bristol-Myers Squibb Co. – 2012/08/31 – US$ 500.00

Summary: Bristol-Myers Squibb Co. – 2012/08/31 – US$ 225.00

Bristol-Myers Squibb Co. Notes Rated 'A+'; Shelf Debt Rated 'A+'(Prelim), Preferred Stock Rated 'A-'(Prelim) – 2012/07/26 – US$ 150.00

Bulletin: Bristol-Myers Squibb Co. $7 Billion Deal For Amylin Will Not Affect Ratings Or Outlook – 2012/07/02 – Free

Research Update: Bristol-Myers Squibb Short-Term Rating Raised To 'A-1+' From 'A-1' After Criteria Revision – 2012/05/31 – US$ 225.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author

Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Summary: Bristol-Myers Squibb Co." Mar 29, 2013. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Bristol-Myers-Squibb-Co-1106412>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Bristol-Myers Squibb Co. Mar 29, 2013. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Bristol-Myers-Squibb-Co-1106412>

US$ 225.00

$ £ €

Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

Example Report

Click to View Sample Report

More Research

Search all our Residential Mortgage-Backed Securities from one place.