Avantor® Announces Credit Rating Upgrade by Moody's Investors Services
Corporate Family Rating upgraded to 'Ba3'/Stable
New rating based on strong operating performance and cash flow generation
Follows rating upgrades by Fitch Ratings and S&P Global Services
18 Mar, 2021, 16:21 ET
RADNOR, Pa., March 18, 2021 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technologies & applied materials industries, today announced that Moody's Investor Services upgraded its Corporate Family Rating (CFR) to 'Ba3'/Stable Outlook. Moody's rating upgrade follows upgrades from Fitch Ratings and S&P Global Ratings.
"We are pleased with the decision from Moody's to upgrade our credit rating," said Thomas Szlosek, Executive Vice President and Chief Financial Officer at Avantor. "Avantor's continued strong performance reflects the resiliency of our business model, the high relevance we have to our customers' most important objectives and our team's ability to execute in a challenging environment."
In early March, Fitch Ratings upgraded Avantor one notch to 'BB' with a positive outlook. In February, S&P Global Ratings upgraded Avantor's issuer credit default rating two notches to 'BB+' with a stable outlook.
Avantor®, a Fortune 500 company, is a leading global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. Our portfolio is used in virtually every stage of the most important research, development and production activities in the industries we serve. One of our greatest strengths comes from having a global infrastructure that is strategically located to support the needs of our customers. Our global footprint enables us to serve more than 225,000 customer locations and gives us extensive access to research laboratories and scientists in more than 180 countries. We set science in motion to create a better world. For more information, please visit www.avantorsciences.com.
Forward-Looking and Cautionary Statements
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