Moody's ups Chugai's debt to A1

Moody's Investors Service said it upgraded to A1 from A2 Chugai Pharmaceutical Co., Ltd.'s senior unsecured long-term debt rating, which reflects Moody's expectation that Chugai will continue to strengthen its cash-flow generation and financial flexibility by leveraging its strong product portfolio over the intermediate term.

The outlook is stable.

Chugai has maintained steady revenue growth while improving its profitability in the last few years by maximizing synergies resulting from its business alliance with the Roche group and by successfully promoting new products, the agency noted.

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