S&P: Elan view positive

Standard & Poor's said it revised the outlook on Elan Corp. plc to positive from stable and affirmed the ratings on the company and its subsidiaries, including the B corporate credit rating.

S&P said the outlook reflects the increasing sales of Elan's key product Tysabri.

According to the agency, the ratings reflect the company's high debt leverage, continued losses and negative cash flow, and heavy reliance on the sales of Tysabri.

These concerns are offset somewhat by the growth potential of Tysabri, adequate liquidity in the form of significant on-hand cash and the lack of significant debt maturities until 2011, the agency said.

© 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.