Fitch Ratings

Fitch revises Schering-Plough Corp.'s Rating Outlook to Stable, affirms 'A-/F2'

Published in Pharma Law Weekly, July 18th, 2006

Fitch Ratings has affirmed Schering-Plough Corporation's (Schering-Plough) 'A-' Issuer Default Rating (IDR), senior unsecured debt and bank loan ratings, 'BBB+' mandatorily convertible preferred stock rating, and the 'F2' commercial paper rating.

The Rating Outlook has been revised to Stable from Negative. The ratings apply to approximately $3.27 billion of debt securities.

Schering-Plough has been able to resolve a range of significant operational and legal challenges over the past few years, resulting in a credit profile that has stabilized as demonstrated by sustained strong growth of revenues, expansion of margins, and reduction of leverage....

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Source: Pharma Law Weekly (2006-07-18)

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