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S&P revises Amneal view to stable
S&P said it revised the outlook for Amneal Pharmaceuticals LLC to stable from negative.
“The outlook revision reflects our greater confidence that Amneal will have adjusted debt to EBITDA in the 7.5x area for 2020 and generate free cash flow in the $105 million area (free cash flow to debt greater than 3%). This is a material improvement from Amneal's 2019 operating results, including adjusted debt to EBITDA of 8.5x and a free cash flow deficit of nearly $100 million,” S&P said in a press release.
S&P also affirmed its ratings for Amneal, including the B corporate credit rating.
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