Moody's upgraded Novo-Nordisk A/S's credit rating to Aa3, with a "positive" outlook.
The credit rating agency Moody's has upgraded the long-term credit rating of Danish pharmaceutical giant Novo-Nordisk A/S from A1 to Aa3, with the outlook raised from "stable" to "positive." Moody's stated that this rating upgrade reflects the company's growth in diabetes and obesity medications (mainly Ozempic and Wegovy), as well as a moderate patent risk over the next three years, and a solid and increasingly diversified product line, despite the focus on diabetes and obesity treatment. The institution added that Novo-Nordisk A/S's very strong crediting indicators also played a role. The outlook upgrade is due to Moody's expectation that Novo-Nordisk A/S will continue its growth in the next 12 to 18 months.
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