GlaxoSmithKline (GSK) Has Credit Outlook Cut by Moody's
7/30/2013 7:18:51 AM
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The ratings agency said the decision to change its view from stable was due to multi-billion-pound acquisitions, legal settlements over drugs and large share buybacks. Moody’s kept GSK’s A1 rating unchanged, but yesterday’s move raises the chance of a downgrade. While Moody’s “notes the ongoing investigation into GSK by China”, it added that this was “not a trigger for [Monday’s] action”.
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