NEW YORK (S&P Global Ratings) Nov. 2, 2026--S&P Global Ratings today assigned its'A-'issue-level rating to Thermo Fisher Scientific Inc.'s new senior unsecured debt. The company intends to use the net proceeds from this issuance to refinance its upcoming maturities and for general corporate purposes. Our'A-'issuer credit rating on Thermo Fisher continues to reflect its consistent operating results, solid organic growth prospects, and diverse product portfolio. While the company's leverage is currently elevated relative to our expectations for the rating, due to the incremental debt it issued to fund its purchase of Clario, we expect it will reduce its leverage to 3.0x by the end of 2026, from about 3.2x as of Sep. 30, 2026. Our base-case
