Moody’s Boosts Boston Scientific Debt Rating (BSX)
Ratings agency Moody’s has raised the debt rating of Boston Scientific Corp. (NYSE: BSX) from ‘Ba1’ to ‘Baa3’ with a stable outlook. The new rating applies to new senior unsecured debt and to shares already included in the company’s last…
Ratings agency Moody’s has raised the debt rating of Boston Scientific Corp. (NYSE: BSX) from ‘Ba1’ to ‘Baa3’ with a stable outlook. The new rating applies to new senior unsecured debt and to shares already included in the company’s last shelf registration.
According to Moody’s:
Boston Scientific’s commitment to lower leverage and cost-cutting initiatives should provide it with sufficient cushion to withstand ongoing pressures in its core markets. Furthermore, patent litigation risk continues to wind down, as recent developments appear to weigh in Boston Scientific’s favor.
The ratings agency also viewed the appointment of a new president (soon to be CEO) as a positive development.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.