| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Elan Corp. plc > News item |
S&P: Elan on positive watch
Standard & Poor's said that it placed a B corporate credit rating on Elan Corp. plc and the B issue-level ratings on Elan Finance Corp. and Elan Finance plc on CreditWatch with positive implications.
The CreditWatch placement follows the company's announcement that it will be selling its EDT business to newly formed Alkermes plc and that it will use the cash portion of the proceeds from that sale to reduce debt.
The rating on Elan reflects the company's critical dependence on sales of its multiple sclerosis treatment, Tysabri and a thin near-term pipeline, the agency said.
The ratings consider the company's weak business profile, the agency added.
© 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.