Moody’s might lower Ikaria

Moody's Investors Services said it placed the ratings of Ikaria, Inc. under review for upgrade, including the B2 corporate family rating and B2-PD probability of default rating.

This action follows the March 5 announcement that Ikaria entered into a definitive agreement to be acquired by Mallinckrodt International Finance SA (Ba3 under review for downgrade) in a transaction valued at $2.3 billion.

Moody’s said the review for upgrade is based upon its view that, should the acquisition by Mallinckrodt be consummated, Ikaria will become part of an enterprise with a stronger overall credit profile than on a standalone basis.

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