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Despite Elite Rating, Huge Sales, Expanded Pfizer Still Faces Challenges.
Knight Ridder/Tribune Business News, May, 2003
By Matthew Lubanko, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
May 4--Despite spending tens of billions of dollars to buy two companies over the last three years, Pfizer Inc. still retains an elite Triple-A credit rating.
That Triple-A rating places Pfizer in a select club with just seven other U.S. companies. The drug-maker employs 6,000 in the Groton-New London area of Connecticut.
But that Triple-A rating only assures bondholders that Pfizer can make good on its debts. It does not suggest that investors should run out and buy Pfizer stock -- and expect to ride with the mega-drug-maker for 10 more years of unmatched prosperity. The new Pfizer is far different from the one that delivered annualized returns...
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