Mylan (MYL) Ratings Affirmed by Fitch Amid Meda Deal; Outlook Remains Stable
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Fitch Affirms Mylan at 'BBB-' on Meda Acquisition Announcement; Outlook Stable
February 11, 2016 1:06 PM ESTCHICAGO--(BUSINESS WIRE)-- Fitch Ratings has affirmed the long-term Issuer Default Rating (IDR) of Mylan N.V. (NYSE: MYL; Mylan), and the long-term ratings of its subsidiary Mylan, Inc., at 'BBB-' following the announcement that Mylan will acquire Meda A.B. (Meda) for approximately $9.9 billion. The Rating Outlook is Stable.
Mylan's ratings apply to approximately $7.3 billion of debt outstanding at Dec. 31, 2015. A full list of rating actions follows at the end of this release.
Fitch views the deal as strategically sound, strengthening Mylan's position in Western Europe while adding new important growth markets, including China,... More
