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Fitch ups, withdraws Allergan
Fitch Ratings said it upgraded and withdrew the ratings of Allergan plc, Allergan, Inc. and Forest Laboratories, LLC to BBB from BBB-.
The upgrade is supported by AbbVie Inc.’s acquisition of Allergan, the assumption of Allergan’s debt by AbbVie, and the expectation the combined company will operate with a credit profile at least commensurate with a BBB rating within 24 months of the acquisition, Fitch said.
The outlook is positive.
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