Fitch Downgrades Merck's L-T IDR to 'A'; Outlook Revised to Stable

April 13, 2015 4:21 PM

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(The following statement was released by the rating agency) CHICAGO, April 13 (Fitch) Fitch Ratings has downgraded Merck & Co.'s (Merck) long-term Issuer Default Rating (IDR) by one notch to 'A' and revised the Rating Outlook to Stable from Negative.

In addition, the company's short-term IDR has been affirmed at 'F1'. Merck had $21.7 billion in outstanding debt at Dec. 31, 2014. A full list of Fitch's ratings actions follows at the end of this release. KEY RATING DRIVERS --Fitch expects MRK's leverage (total debt/EBITDA) to remain above 1.7x for...

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