Increase in Mesh Litigation Reserves is Credit Negative for Endo Int'l (ENDP) - Moody's

Moody's Investors Service commented that the increase in mesh litigation reserves announced by Endo Int'l (NASDAQ: ENDP) is credit negative for the company including the rated issuers Endo Luxembourg Finance I Company S.a.r.l., Endo Finance LLC and Endo Finance Co (collectively "Endo"). Endo's Corporate Family Rating is Ba3 and its ratings are under review for possible downgrade related to the company's recent proposal to acquire Auxilium Pharmaceuticals, Inc. Moody's rating review of Endo will consider the impact of mesh litigation outflows anticipated over the next several years.

You May Also Be Interested In

• IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
• Standard BioTools (LAB) Announces Operational Restructuring Plan, Cuts 10% Staff
• T-Mobile (TMUS) and EQT Announce JV to Acquire Lumos