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Moody's upgrades drugmaker Mylan's credit ratings

Fri, 03/05/2010 - 3:47am

PITTSBURGH (AP) — Generic drugmaker Mylan Inc. said Friday Moody's Investors Service upgraded the company's credit ratings due in part to good operating performance and debt reduction.

Moody's upgraded Mylan's corporate family rating to "Ba3" from "B1" and its senior secured bank rating to "Ba2" from "Ba3." Both ratings are non-investment grade.

Moody's also affirmed Mylan's "SGL-1" Speculative Grade Liquidity Rating, the drugmaker said.

 

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