Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) said on Wednesday that S&P Global Ratings upgraded its long-term issuer credit rating to BB+ from BB with a stable outlook, while Moody's affirmed its Ba1 rating and revised the outlook to positive.

The actions reflect Teva's steady deleveraging and improving operating performance.

Delevaraging

S&P noted adjusted leverage fell to 4.4x as of Sept. 30, 2025, and expects it to decline below 4.25x in the coming quarters, supporting the higher rating.

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Both agencies highlighted Teva's financial discipline, solid liquidity, and return to revenue growth after five years of declines, driven by strength in branded medicines and stabilization in generics.

Moody's ...