Rating agencies Moody’s and S&P assigned investment-grade ratings to Sun Pharmaceutical Industries — India’s largest pharmaceutical company — over the proposed USD 11.75-billion acquisition of US-based Organon & Co.
S&P Global Ratings assigned a preliminary ‘BBB+’ long-term issuer credit rating, while Moody’s Ratings assigned a ‘Baa1’ long-term issuer rating to the Indian pharmaceutical major. Both agencies have maintained a ‘stable’ outlook for the company.
Baa1 and BBB+ are investment-grade credit ratings that indicate adequate payment capacity with moderate credit risk.
The rating actions follow Sun Pharma’s binding bid in April 2026 to acquire a 100 per cent stake in Organon for an enterprise value of USD 11.75 billion. The transaction is expected to close by March 2027, subject to regulatory approvals.
According to S&P, the acquisition will bolster Sun Pharma’s business position, almost doubling its revenue base to about Rs 1.3 trillion (around USD 14 billion) ..
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