Moody’s revises Perrigo to stable

Moody's Investors Service said it affirmed the Baa3 senior unsecured ratings of Perrigo Co. plc and related subsidiaries and revised the outlook to stable from negative.

"The outlook revision to stable reflects the company's material debt repayment and improvement in credit metrics," Moody's assistant vice president Morris Borenstein said in a news release.

"The stable outlook also reflects Moody's expectation that despite headwinds in its generics business, debt/EBITDA will improve to around 3.0 times over the next 12-18 months."

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