Correction: Fitch Affirms Mylan at 'BBB-' on Meda Acquisition Announcement; Outlook Stable
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S&P Affirms Ratings on Mylan (MYL) Following Meda AB Acquisition Announcement
February 12, 2016 8:10 AM ESTStandard & Poor's Ratings Services said it affirmed its 'BBB-' corporate credit rating and all existing issue-level ratings on Mylan N.V. (Nasdaq: MYL). The outlook is stable.
Mylan has announced it is acquiring Sweden-based pharmaceutical maker Meda AB for $9.9 billion, which includes the debt at Meda. The acquisition adds more than $2 billion in annual sales of generic, branded, and over-the-counter drugs to Mylan, strengthens its European franchise, and expands Mylan into a several new territories.
"Although the transaction, funded with... More
