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.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
