With its share trading near an all-time high, and analyst enthusiasm for its goals for 2015 which it presented recently, Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) now has become the first generic pharmaceuticals company to receive an "A" rating from credit rating firm Moody's.
Moody's raised Teva's credit rating by one notch, to "A3".
Michael Levesque of Moody's said that the upgrade reflects a favorable growth outlook, as well as "clearly articulated financial targets and the expectation that [merger activity] can be financed with debt levels appropriate for the A3 rating."
According to Teva's plans for 2015, revenue is expected to grow 120% to $30 billion and net profit is set to reach $6.8 billion.
Teva shares closed yesterday at $58.95, giving a market cap of $51.93 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on January 14, 2010
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