S&P cuts King outlook to negative

Standard & Poor's said it revised its outlook on King Pharmaceuticals Inc. to negative from stable.

At the same time, the agency said that it affirmed its BB corporate credit rating on the company, adding that the action reflects its concerns and uncertainty relating to the company's ongoing product transition.

According to the agency, the ratings on specialty pharmaceutical company King Pharmaceuticals reflect the looming competitive challenges facing a number of the company's core products, a lack of visibility with regards to pipeline contributions, and the potential need for significant debt-financed product acquisitions.

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