Teva Pharmaceutical Industries Achieves Investment-Grade Credit Rating

Teva Pharmaceutical Industries announced a significant financial milestone as S&P Global Ratings upgraded its long-term corporate credit rating to BBB minus from BB plus, with a stable outlook. This upgrade places Teva at an investment-grade level, marking the third such upgrade for the company in recent months, following similar actions by Fitch and Moody's. Teva now holds an investment-grade credit rating from all three major rating agencies.

The company views this achievement as a strong vote of confidence in its ongoing transformation, particularly its efforts to improve business performance, reduce debt, and strengthen its financial standing. Teva's Senior Vice President and Chief Financial Officer, Eli Kalif, stated that the three upgrades reflect the successful implementation of the 'Pivot to Growth' strategy and significant progress in debt reduction and financial profile enhancement. He added that this milestone bolsters Teva's financial flexibility, enabling continued investment in growth and long-term value creation.

S&P Global Ratings also positively assessed Teva's growth capabilities, citing its sustainable growth potential driven by strong product performance, stability in its generic business, and a robust pipeline of innovative products in advanced development. The rating upgrade signifies an improved perception of Teva's business and financial condition. The agency's recognition of debt reduction and financial profile strengthening was a key factor in the decision. This development is particularly significant for Teva, which has focused on strengthening its balance sheet and managing high debt levels, now benefiting from an enhanced financial picture and greater operational flexibility.