Fitch turns Pharmanovia view to stable

Fitch Ratings said it revised the outlook on Pharmanovia Bidco Ltd.'s (Antigua Bidco Ltd. or Atnahs) to stable from negative and affirmed the long-term issuer default rating at B+. The agency also affirmed Pharmanovia's senior secured debt at B+/RR4.

“The revision of the outlook to stable reflects Fitch's view that the company's redefined strategy will continue to offer strong profitability and cash conversion, with greater control around market access for its specialist generic drug portfolio. The stable outlook assumes a stabilization of profit margins and a disciplined approach to M&A targeted to selectively strengthen Pharmanovia's defined strategic treatment areas,” the agency said in a press release.

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