Moody's Upgrades Sanofi SA to A1-Reuters

Thursday, 28 Mar 2013 07:34am EDT 

Reuters reported that Moody's Investors Service upgraded to A1 from A2 the long-term senior unsecured ratings of Sanofi SA and its affiliates. It has, at the same time, upgraded to (P)A2 from (P)A3 its subordinate MTN debt rating. The Company's Prime-1 (P-1) short-term ratings are unchanged. The outlook on all ratings is stable. The Company's A1 rating positively reflects its scale and position in pharmaceuticals, vaccines and animal health, its diversification in multiple therapeutic areas, as well as other health-related areas (e.g., over-the-counter and branded generics), reinforced by the acquisition of Genzyme, its gradual transition to a business profile less exposed to the impact of patent expiries and also its cash flow generation combined with the liquidity profile. 

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