Bayer Aims to Improve Credit Rating
By Mauro Orru
Bayer said it would address its debt in an effort to secure an A rating from agencies.
The German pharmaceutical and agricultural conglomerate said Tuesday that it would aim for profitable growth and amend its dividend policy to achieve top ratings. Bayer had previously proposed paying out the legally required minimum for three years.
The group has a BBB long-term rating with a positive outlook from S&P Global, a Baa2 long-term rating with a negative outlook from Moody's and a BBB+ long-term rating with a negative outlook from Fitch Ratings, according to Bayer's website.
Fitch revised Bayer's outlook to negative from stable last year, citing greater operational and business risks in Bayer's core operations such as pharmaceuticals and crop science as well as risks linked with pending litigation settlements.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
March 05, 2024 03:37 ET (08:37 GMT)
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