Moody’s reviews Allergan

Moody's Investors Service said it placed the ratings of Allergan, Inc. under review for downgrade, including the A3 senior unsecured long-term rating and the Prime-2 short-term rating.

The review was prompted by the shortening window of time prior to Allergan's Dec. 18 Special Board Meeting, during which Allergan shareholders will vote on proposals by Pershing Square Capital LLP related to the potential acquisition of Allergan by Valeant Pharmaceuticals International, Inc.

The upcoming Special Board meeting also prompts concerns that Allergan may consider changes in Allergan's financial strategy could involve debt-financed acquisitions or share repurchases, Moody’s said.

© 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.