Takeda Pharmaceutical Downgraded To 'AA-' On Completion Of Nycomed Acquisition; Off CreditWatch; Outlook Stable Oct 11
- Language: English
- Published: October 2011
Takeda Pharmaceutical has announced a plan to buy pharmaceutical company Nycomed for -9.6 billion. Standard & Poor's believes Takeda's financial profile will deteriorate because it plans to cover the cost of the acquisition with liquidity on hand and bank borrowings, although the acquisition will strengthen the geographic diversification of the company's business. We placed the long- and short-term ratings on Takeda on CreditWatch with negative implications. We will resolve the CreditWatch placement after examining the prospects for Takeda to achieve benefits through integration and streamlining following the acquisition. Among other factors, we will assess the likelihood and pace of a recovery in Takeda's financial risk profile. TOKYO (Standard & Poor's) May 19, 2011--Standard & Poor's Ratings Services today placed its...
Companies mentioned in this report are: Takeda Pharmaceutical Co. Ltd.,Nycomed S.C.A. SICAR
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
SHOW LESS READ MORE >
Takeda Pharmaceutical Co. Ltd.,Nycomed S.C.A. SICAR