Moody’s raises Alkermes to stable

Moody's Investors Service said it affirmed the ratings of Alkermes, Inc., a subsidiary of Alkermes plc, including the Ba3 corporate family rating, the Ba3-PD probability of default rating and the Ba3 senior secured term loan.

The outlook was revised to stable from negative.

Moody’s said the outlook change reflects good sales trends for key products like Vivitrol and Aristada, resulting in a path toward positive earnings over the next 12 to 18 months. The outlook change also reflects continuation of pipeline execution, supporting Alkermes' extremely high asset coverage of its debt, which is very modest.

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