Form 8-K Mylan N.V. For: Feb 10

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Moody's Affirms Ratings of Mylan (MYL) Amid Meda Acquisition Deal

February 11, 2016 12:44 PM EST

Moody's Investors Service affirmed the Baa3 senior unsecured ratings of Mylan N.V. and Mylan Inc (Nasdaq: MYL). This follows the announcement that Mylan has made an offer to acquire Meda AB for $9.9 billion in cash and stock. The outlook is stable.

"The acquisition of Meda will meaningfully increase Mylan's leverage -- to around 4.0x debt/EBITDA from around 2.5x." Said Moody's Senior Vice President, Jessica Gladstone. "However, there was substantial cushion built in to Mylan's Baa3 rating as we had anticipated that the company would continue to pursue large acquisitions... More