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S&P assigns Swiss biotech Lonza BBB+ credit rating with stable outlook
SWISS biotech Lonza Group announced on Thursday afternoon that Standard & Poor's (S&P) has assigned it a BBB+ credit rating with stable outlook.
Lonza, which has a secondary listing on the Singapore Exchange (SGX), said it considers this investment grade rating a positive outcome of the recent initiation of the rating process, which will support the company's financing strategy.
Rodolfo Savitzky, Lonza’s chief financial officer, said in the SGX filing: “Lonza has been managing its capital structure with the overall aim of maintaining an investment grade credit profile, which S&P has now formally confirmed. The S&P rating will increase transparency and comparability for debt investors and other capital market participants.
Lonza, whose share trading on the SGX was halted during the midday break on Thursday, called for trading to resume after its announcement.