PFE · 10-Q · 2026Q3 · Full report

Liquidity and Debt Position

PFIZER INC · 2026-11-03 · Importance 25 · Surprise 6

Pfizer reported access to a $7.0 billion committed revolving credit facility maturing in October 2031 and an additional $220 million of lender-provided lines of credit. All credit lines were unused as of the filing date. Pfizer’s commercial-paper ratings were P-1 from Moody’s and A-1 from S&P; its senior unsecured long-term debt ratings were A2 and A, respectively, with stable outlooks. The company said it expects leverage to remain around current levels, or modestly higher, through the period of anticipated patent- and regulatory-exclusivity expiries.

Key facts

• As of the filing date, Pfizer had access to a $7.0 billion committed revolving credit facility maturing in October 2031, available for general corporate purposes, including support of global commercial paper borrowings. source
• Pfizer's financing cash flow was $(9.025) billion for the nine months ended September 27, 2026, compared with $(10.900) billion for the nine months ended September 28, 2025. source
• Pfizer's financing cash flow change was driven partly by a $3.0 billion decrease in net repayments of short-term borrowings and a $2.5 billion decrease in repayments of long-term debt, partially offset by the non-recurrence of a $3.7 billion long-term debt issuance. source
• As of the filing date, Pfizer's lenders had provided an additional $220 million in lines of credit, essentially all expiring within one year; all lines of credit were unused. source
• Pfizer's long-term debt was rated A2 by Moody's and A by S&P, with stable outlooks, as of the filing date. source