Moody's Rates Concordia's (CXRX) Latest Notes Offering at 'B1'; Outlook Lowered to Negative
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S&P Affirms Ratings on Concordia Int'l (CXRX); Lowers Outlook to Negative
October 6, 2016 3:03 PM EDTS&P Global Ratings affirmed its 'B' corporate credit rating on Concordia International Corp. (Nasdaq: CXRX) and revised the rating outlook to negative from stable.
At the same time, we lowered our issue-level rating on the company's senior secured debt to 'B' from 'B+' and affirmed our 'CCC+' rating on the unsecured debt. We revised the recovery rating on the senior secured debt to '3' from '2', indicating expectations for meaningful (50%-70%, at the higher end of the range) recovery in the event of a payment default. The... More
Concordia International (CXRX) Announces Notes Offering; Sees FY16 adj.-EBITDA Lower Y/Y
October 5, 2016 4:32 PM EDTConcordia International Corp. (Concordia or the Company) (NASDAQ: CXRX) announced its intention to commence an offering (the "Offering"), subject to market conditions and other factors, of up to $350 million of new 5 ½ year Senior Secured First Lien Notes (the "Notes").
Actual terms of the Notes, including interest rate, principal amount... More
