Moody's may lift King Pharmaceuticals

Moody's Investors Service said it placed King Pharmaceuticals, Inc.'s Ba3 corporate family and probability-of-default ratings, and its Ba1 (LGD2, 16%) senior secured revolving credit facility of $500 million due 2013 under review for upgrade.

The action follows the announcement that Pfizer Inc. will acquire King for $14.25 per share, or about $3.6 billion.

Pfizer's ratings (A1 long-term, Prime-1 short-term) are unaffected by the announcement.

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