Form 10-Q Mead Johnson Nutrition For: Sep 30

Go back to Form 10-Q Mead Johnson Nutrition For: Sep 30

Mead Johnson (MJN) Enters $1B Accelerated Buyback

October 23, 2015 6:06 AM EDT

Mead Johnson (NYSE: MJN) disclosed the following on Friday morning:

After the close of market on October 22, 2015, Mead Johnson Nutrition Company (the Company) entered into a $1.0 billion accelerated share repurchase agreement (the ASR Agreement) with Goldman, Sachs & Co. (Goldman). The Company will acquire the shares under the ASR Agreement as part of its previously announced $1.5 billion share repurchase program.

Pursuant to the terms of the... More

S&P Downgrades Mead Johnson (MJN) to 'BBB'; Notes Less Conservative Financial Policy

October 22, 2015 3:02 PM EDT

Standard & Poor's Ratings Services lowered its corporate credit rating on Mead Johnson Nutrition Co. (NYSE: MJN) to 'BBB' from 'BBB+'. The outlook is stable.

At the same time, we lowered our issue-level rating on the company's senior unsecured notes to 'BBB-' from 'BBB'. We estimate pro forma debt outstanding as of Sept. 30, 2015, is about $2.8 billion.

"The downgrade reflects the company's less conservative financial policy, in our view, which we forecast will result in debt to... More