S&P downgrades Actavis

Standard & Poor's said it lowered the corporate credit rating on Actavis plc to BBB- from BBB.

The outlook is stable.

In conjunction with the downgrade, the agency also said it is lowering the ratings on all the company's debt issues, including issues listed under Actavis plc, Actavis WC Sarl and Actavis Inc., to BBB- from BBB.

The downgrades consider the company's more aggressive acquisition activity, heightened integration risk and a view that leverage will be consistent with a significant financial risk profile, S&P said.

The ratings reflect the company's satisfactory business risk profile and significant financial risk profile assessments, said David Peknay, an S&P analyst.

The ratings also consider its well-established position as one of the largest companies in the competitive generic drug industry and its growing portfolio of specialty and branded products, Peknay said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.