Endo Pharmaceuticals Holdings' 'BB+' Rating On Watch Negative On Planned Acquisition Of American Medical Systems Apr 11
Standard & Poors, April 2011
Abstract
U.S. specialty pharmaceutical company Endo Pharmaceuticals Holdings Inc. is acquiring American Medical Systems Inc. (AMS) for approximately $2.9 billion. The company will fund the acquisition, the refinance of Endo's existing secured debt, and the payment of transaction fees, through a $3.1 billion debt financing and some $363 million of cash. We are placing both the 'BB+' corporate credit rating and the 'BB+' issue-level rating on the company's $400 million of senior unsecured notes on CreditWatch with negative implications. We will resolve the CreditWatch upon close of the transaction. At that time, based on the proposed terms of the transaction, Standard & Poor's expects to lower Endo's corporate credit rating one notch, to 'BB' and to assign a stable outlook to...
Companies mentioned in this report are:
- Endo Health Solutions Inc.
- American Medical Systems Inc.
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.
- Endo Health Solutions Inc.
- American Medical Systems Inc.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
