Thermo Fisher Scientific Inc.'s Senior Unsecured Notes Rated 'BBB'

NEW YORK (Standard&Poor's) April 4, 2016--Standard&Poor's Ratings Services today assigned its 'BBB' issue-level rating to Thermo Fisher Scientific Inc.'s proposed senior unsecured note offering due 2023. The company will use the proceeds to retire its $1 billion senior unsecured notes maturing in August 2016. Our 'BBB' corporate credit rating on Thermo Fisher continues to reflect the company's significant scale and product and end-market diversity which supports our assessment of a strong business risk profile. Our base-case expectation that leverage (adjusted for net cash) will be in the low-3.0x area at the end of 2016 supports our assessment of the financial risk profile as significant. For the corporate credit rating rationale, see the summary analysis published June

...NEW YORK (Standard & Poor's) April 4, 2016--Standard & Poor's Ratings Services today assigned its '###' issue-level rating to Thermo Fisher Scientific Inc.'s proposed senior unsecured note offering due 2023. The company will use the proceeds to retire its $1 billion senior unsecured notes maturing in August 2016. Our '###' corporate credit rating on Thermo Fisher continues to reflect the company's significant scale and product and end-market diversity which supports our assessment of a strong business risk profile. Our base-case expectation that leverage (adjusted for net cash) will be in the low-3.0x area at the end of 2016 supports our assessment of the financial risk profile as significant. For the corporate credit rating rationale, see the summary analysis published June 22, 2015, on RatingsDirect. RELATED CRITERIA AND RESEARCH Related Criteria + Criteria - Corporates - General: Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Dec. 16, 2014 + Criteria...

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