TORONTO (S&P Global Ratings) Sept. 24, 2019--S&P Global Ratings today assigned its 'BBB+' issue-level rating to Thermo Fisher Scientific Inc.'s multi-tranche senior unsecured U.S. dollar and euro notes offerings. The euro notes mature in 2025, 2028, 2031, 2039, and 2049. The U.S. dollar offering matures in 2029. The company plans to use the proceeds from these notes to refinance existing debt. We expect the transaction to be neutral for leverage. Our 'BBB+' issuer credit rating on Thermo Fisher reflects our assessment of its significant scale as the largest provider of analytical instruments, equipment, and reagents for the research market, with a large distribution network. Thermo Fisher's business risk also benefits from a diverse presence across customers and the regions in
