Thermo Fisher Scientific Inc.'s New Senior Unsecured Debt Rated 'A-'

TORONTO (S&P Global Ratings) Feb. 27, 2024--S&P Global Ratings today assigned its 'A-' issue-level rating to Waltham, Mass.-based life sciences company Thermo Fisher Scientific Inc.'s senior unsecured debt, which it has issued in multiple tranches. Thermo Fisher intends to use the net proceeds for general corporate purposes, including to fund acquisitions, refinance its debt, or repurchase its common shares. Our 'A-' issuer credit rating on Thermo Fisher continues to reflect its consistent operating results, solid organic growth prospects, and diverse product portfolio. While we expect the company will remain acquisitive, management has a strong operating track record that will likely enable it to maintain S&P Global Ratings-adjusted leverage of less than 3x over the long term. Criteria Corporates

...February 27, 2024 TORONTO (S&P Global Ratings) Feb. 27, 2024--S&P Global Ratings today assigned its 'A-' issue-level rating to Waltham, Mass.-based life sciences company Thermo Fisher Scientific Inc.'s senior unsecured debt, which it has issued in multiple tranches. Thermo Fisher intends to use the net proceeds for general corporate purposes, including to fund acquisitions, refinance its debt, or repurchase its common shares. Our 'A-' issuer credit rating on Thermo Fisher continues to reflect its consistent operating results, solid organic growth prospects, and diverse product portfolio. While we expect the company will remain acquisitive, management has a strong operating track record that will likely enable it to maintain S&P Global Ratings-adjusted leverage of less than 3x over the long term....

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