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Bristol-Myers Squibb Company -- Moody's: Bristol's Otezla divestiture credit negative

Moody's Investors Service commented that Bristol-Myers Squibb Company's announcement that Celgene Corporation's Otezla will need to be divested in order to gain anti-trust approval to complete the merger of the two companies is credit negative. Celgene is rated Baa2/Prime-2, with the Baa2 rating under review for upgrade. Moody's continues to anticipate a rating of A3 at the conclusion of the review, all other factors being equal.