Moody’s ups Thermo Fisher senior unsecured rating

Moody’s Investors Service said it upgraded Thermo Fisher Scientific Inc.'s senior unsecured rating to Baa1 from Baa2 and affirmed its Prime-2 commercial paper rating.

The outlook is stable.

“The upgrade of Thermo Fisher's senior unsecured rating to Baa1 reflects the successful integration of its Patheon acquisition,” Moody's vice president, senior analyst Jonathan Kanarek said in a news release.

“It is also supported by Thermo Fisher's strong organic growth trajectory and cash flow generation and continued deleveraging in line with our expectations.”

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