trending Market Intelligence /marketintelligence/en/news-insights/trending/EdBU3h3IGCj6PfZGAM8GaQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

S&P cuts Becton Dickinson ratings after closing of Bard deal

COVID-19 Pandemic Likely To Cause US Telemedicine Boom

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


S&P cuts Becton Dickinson ratings after closing of Bard deal

S&P Global Ratings downgraded its rating on Becton Dickinson and Co., including the corporate credit rating and the senior unsecured issue-level ratings to BBB from BBB+.

The outlook on the ratings is stable.

S&P said the downgrade reflects its view that the company's increasing business risk from the acquisition of C. R. Bard Inc. is more than offset by the considerable increase in its debt leverage. The deal follows the company's $12.5 billion acquisition of CareFusion in March 2015, which also resulted in a period of elevated debt leverage.

The rating agency expects the company to firmly prioritize deleveraging over share repurchases and mergers and acquisitions for the next two years or until it achieves those deleveraging goals.

S&P believes the deal strengthens the company's market position in medication management and infection prevention, materially increases scale, improves product diversity and bolsters the company's competitive advantage.

The rating agency expects the acquisition to improve Becton's EBITDA margins and pace of revenue growth along with growth opportunities for Bard's products outside the U.S.

S&P said the stable outlook reflects prospects for modest revenue and EBITDA growth, and the agency's confidence in Becton Dickinson's commitment to prioritize deleveraging over the next two years. The agency expects that the company will generally operate its business with net debt below 3.75x.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.