Schering-Plough Rating Lowered

S&P cites the steady erosion of the drugmaker's earnings prospects

On Dec. 17, 2003, Standard & Poor's Ratings Services lowered its corporate credit and long-term debt ratings on Schering-Plough (SGP ) to 'A' from 'A+'. The ratings were also removed from CreditWatch, where they were placed Nov. 10, 2003, a reflection of Standard & Poor's increasing doubt that the company could restore its business profile to one consistent with an 'A+' rating.

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