Reported about 13 hours ago
Johnson & Johnson is facing potential downgrading of its AAA credit rating from S&P Global Ratings due to its planned $14.6 billion acquisition of Intra-Cellular Therapies Inc., which could increase the company's debt load. While S&P is reviewing the situation, Moody's has reaffirmed J&J's AAA rating, citing its strong cash reserves and free cash flow. The deal is expected to be funded through a combination of cash and debt, with closure anticipated later this year.
Source: YAHOO