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S&P revises Almirall view to stable
S&P said it revised its outlook on Almirall SA to stable from negative.
At the same time, the agency affirmed the BB- long-term issuer credit rating on Almirall.
“The outlook revision reflects the strong performance of Almirall's core European business over 2018 and the operational improvements in the company's U.S. franchise, which we expect to strengthen further following Almirall's acquisition of Allergan's medical dermatology portfolio in the U.S.,” S&P said in a news release.
“We consider that this positive business momentum will allow Almirall to significantly improve its profitability and its credit metrics.”
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