Teva Pharmaceutical Industries (TEVA) said Wednesday that S&P Global Ratings (SPGI) has upgraded its long-term issuer credit rating to BB+ from BB.
The company also said Moody's (MCO) affirmed its B1a rating and revised its outlook to positive from stable.
Teva said the ratings decisions were based on its improvement in operating performance and its debt reduction policies, as well as momentum in its branded franchises and product launches.
Shares of the pharmaceutical company were up 1% pre-bell.