Merck completed the $41B acquisition of Schering-Plough and S&P announced the following: We are affirming our 'AA-' corporate credit and senior unsecure ratings on Merck. The 'A-1+' commercial paper rating is also affirmed. A single IRB rating is lowered, as it will not benefit from a set of cross guarantees; We are raising the long-term issue ratings of Schering-Plough debt to AA-' from 'A-'. The ratings are removed from CreditWatch where they were listed with positive implications March 9; and The positive outlook reflects our view that this acquisition could provide the product diversity and broadened new product pipeline that could justify a higher rating by year-end 2010. :theflyonthewall.com
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