Moody’s moves ANI outlook to positive

Moody’s Investors Service said it revised its outlook for ANI Pharmaceuticals, Inc. to positive from stable and affirmed its B2 ratings.

“The change in outlook reflects Moody's expectation of ANI's continued revenue and profitability growth, moderate financial leverage and very good liquidity. Moody's expects the company will continue to see material growth in sales of purified cortrophin gel, which will drive top and bottom-line growth. While Moody's expects ANI to supplement organic growth with acquisitions,” the agency said in a press release.

Moody's said it expects ANI’s debt to EBITDA to remain below 4x times over the next 12 to 18 months. It also expects the company will keep a very good liquidity profile supported by positive free cash flow, over the forecast horizon.

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