Skip to main content
Premium Trial:

Request an Annual Quote

Fitch Affirms Bio-Rad Ratings At BBB-

NEW YORK (GenomeWeb) – Fitch Ratings today affirmed the ratings of Bio-Rad Laboratories, including the issuer default rating, at BBB- .

Additionally, Fitch assigned a BBB- rating to the firm's senior unsecured bank notes and its senior unsecured bank facility and said that Bio-Rad's rating outlook is stable.

The ratings apply to approximately $437 million of debt at Sept. 30, 2014.

Bio-Rad recently settled bribery investigations by the US Department of Justice and the US Securities and Exchange Commission pertaining to past violations of the Foreign Corrupt Practices Act. In Q4 2014 the company will pay $55 million in penalties comprising a $14.4 million penalty under a non-prosecution agreement and a $40.7 million civil settlement. The full cost of litigation is easily manageable given Bio-Rad's solid liquidity, Fitch said in a statement.

Fitch also noted that it sees sustained revenue growth for Bio-Rad in the 2 to 3 percent range and overall sales increases from clinical diagnostics in the 2 to 3 percent range over the ratings horizon.

The Scan

More Boosters for US

Following US Food and Drug Administration authorization, the Centers for Disease Control and Prevention has endorsed booster doses of the Moderna and Johnson & Johnson SARS-CoV-2 vaccines, the Washington Post writes.

From a Pig

A genetically modified pig kidney was transplanted into a human without triggering an immune response, Reuters reports.

For Privacy's Sake

Wired reports that more US states are passing genetic privacy laws.

Science Paper on How Poaching Drove Evolution in African Elephants

In Science this week: poaching has led to the rapid evolution of tuskless African elephants.