Avantor® Announces Credit Rating Upgrade by Moody's Investors Services
Avantor (NYSE: AVTR) announced a credit rating upgrade from Moody's Investor Services to 'Ba3' with a stable outlook, following similar upgrades from Fitch Ratings and S&P Global Ratings. This rating reflects Avantor's strong performance and resilience during challenging market conditions. The company's business model remains essential to its customers across various sectors, including biopharma and advanced technologies. This upgrade is expected to enhance investor confidence and potentially lower borrowing costs, further supporting Avantor's growth initiatives.
- Moody's upgraded Avantor's Corporate Family Rating to 'Ba3' with a stable outlook.
- Fitch Ratings and S&P Global Ratings also upgraded Avantor's ratings recently.
- The upgrades reflect Avantor's strong operational performance and market relevance.
- None.
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.
About Avantor
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
This press release contains forward-looking statements. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements discuss our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may be preceded by, followed by or include the words "aim," "anticipate," "believe," "estimate," "expect," "forecast," "intend," "likely," "outlook," "plan," "potential," "project," "projection," "seek," "can," "could," "may," "should," "would," "will," the negatives thereof and other words and terms of similar meaning.
Forward-looking statements are inherently subject to risks, uncertainties and assumptions; they are not guarantees of performance. You should not place undue reliance on these statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that our assumptions made in connection with the forward-looking statements are reasonable, we cannot assure you that the assumptions and expectations will prove to be correct. Factors that could contribute to these risks, uncertainties and assumptions include, but are not limited to, the factors described in "Risk Factors" in our 2020 Annual Report on Form 10-K, as such risk factors may be updated from time to time in our periodic filings with the SEC.
All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. In addition, all forward-looking statements speak only as of the date of this press release. We undertake no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise other than as required under the federal securities laws.
Global Media Contact
Allison Hosak
Senior Vice President, Global Communications and Brand
Avantor
+1 908-329-7281
Allison.Hosak@avantorsciences.com
Investor Relations Contact
Tommy J. Thomas, CPA
Vice President, Investor Relations
Avantor
+1 781-375-8051
Tommy.Thomas@avantorsciences.com
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SOURCE Avantor and Financial News
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