Denmark's Novo Nordisk says S&P lifts its credit rating
COPENHAGEN, June 19
COPENHAGEN, June 19 (Reuters) - Denmark's Novo Nordisk , the world's biggest insulin producer, has had its long-term corporate credit rating raised by Standard & Poor's to "AA-" from "A+", with a stable outlook, the company said.
The ratings agency has also raised the short-term rating to "A-1+" from "A-1", Novo said.
"The upgrade reflects our view of Novo Nordisk's improved business risk profile and committed financial policy ... We believe there is a good chance that Novo Nordisk will become one of the world's top 10 pharmaceutical companies within five years," the company quoted Standard & Poor's as saying. (Reporting by Mette Fraende; Editing by Greg Mahlich)