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Bulletin: Thermo Fisher Scientific Inc. Ratings Unaffected By Plan To Acquire Phadia May 11 Product Image

Bulletin: Thermo Fisher Scientific Inc. Ratings Unaffected By Plan To Acquire Phadia May 11

  • ID: 1793750
  • May 2011
  • Standard & Poors

Abstract
TORONTO (Standard & Poor's) May 19, 2011--Standard & Poor's Ratings Services said today that its ratings on Waltham, Mass.-based life science company Thermo Fisher Scientific Inc. (A/Stable/-) are unaffected by the company's plan to acquire Swedish specialty diagnostics company Phadia for roughly $3.5 billion in cash. Phadia develops and manufactures blood-based diagnostics systems for diagnosing and monitoring allergy and autoimmune diseases, a relatively high-margin, fast growing business. The acquisition will likely drive Thermo Fisher's leverage to over 3x and reduce funds from operations to debt to a level inconsistent with its modest financial risk profile. However, we believe that, given Thermo Fisher's long-standing commitment to a conservative financial risk profile and its stable, highly visible annual free cash flow generation...

Companies mentioned in this report are:
- Thermo Fisher Scientific Inc.

Action: Bulletin

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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