Moody's: Medtronic's New Developments Impede Deleveraging, a Credit Negative; No Change to Ratings or Outlook
New York, January 09, 2017-- Moody Investors Service said that on 9 January 2017, Medtronic, plc's CEO announced several developments that will likely impede its ability to deleverage post its 2015 acquisition of Covidien. These developments include a delay in finalizing its transfer pricing dispute with the IRS related to Puerto Rico, as well as a change in how much cash flow it expects to be able to access on a tax efficient basis. Because these developments will impede...
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