Moody's Lowers Outlook on Baxter (BAX) to Negative Following Split Plans
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S&P Lowers Baxter (BAX) to 'A-'; Places on CreditWatch Negative
March 27, 2014 11:47 AM EDTStandard & Poor's Ratings Services lowered its corporate credit rating and the unsecured debt ratings of Baxter International Inc. to 'A-' from 'A', and placed these ratings on CreditWatch with negative implications. We also lowered the company's short-term rating to 'A-2' from 'A-1'.
The lower rating follows the announcement that Baxter plans to spin-off its biopharmaceuticals businesses into a new... More
Baxter (BAX) Plans Split into Two, Separate, Publicly-Traded Companies
March 27, 2014 7:31 AM EDTBaxter International, Inc. (NYSE: BAX) announced plans to create two separate, independent global healthcare companies -- one focused on developing and marketing innovative biopharmaceuticals and the other on life-saving medical products. Both will be global leaders in their respective markets.
Baxter has positioned both businesses to be successful, profitable and sustainable independent companies, and this decision reflects further evolution of Baxters multi-faceted strategies emphasizing a commitment to innovation and operational excellence. To date, this has led to the development of a robust pipeline of novel and cost-effective therapies and numerous in-licensing collaborations within... More
