Johnson & Johnson’s Rare AAA Rating No Longer at Risk, S&P Says
This article is for subscribers only.
Johnson & Johnson, one of the few remaining companies with a top credit rating, is no longer at risk of a downgrade, S&P Global Ratings said Friday.
The maker of Tylenol as well as top-selling prescription medicines was affirmed at AAA, the highest tier, by S&P. The ratings firm cited management’s “very conservative financial policies,” as it removed the company from watch for a cut. J&J units that develop new disease treatments and medical technology have generated steady sales growth, while the talc-related lawsuits the company faces are less likely to trigger large cash outflows in coming years, S&P noted.