S&P lowers Amneal

S&P said it downgraded Amneal Pharmaceuticals LLC by two notches to B from BB-.

The outlook is stable.

The downgrade reflects S&P’s expectation that Amneal's leverage will remain above 6x in 2019 and 2020. The previous rating hinged on S&P’s assumption that the company would reduce its leverage below 4.5x in 2019 following its 2018 combination transaction with Impax Laboratories Inc., S&P said in a news release.

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