Denmark's Novo Nordisk says S&P lifts its credit rating

COPENHAGEN, June 19 Wed Jun 19, 2013 1:30pm EDT

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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)

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