Moody's lifts Elan view to stable

Moody's Investors Service said it revised the outlook on the ratings of Elan Corp. plc to stable from negative.

At the same time, Moody's said it affirmed Elan's ratings, including the B3 corporate family rating.

Moody's said these rating actions follow the recent FDA decision to approve Tysabri for resumed marketing in the United States.

The stable outlook reflects Moody's current assumption that with a reasonably successful Tysabri re-launch, Elan is more likely to meet its 2008 debt maturities with a combination of internal funds and refinancing in the event of a shortfall, the agency said.

However, Moody's said the company's remaining challenges are significant.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.