S&P lifts Mylan to BB

Standard & Poor's said it raised its corporate credit rating on Mylan Inc. to BB from BB- and raised the senior secured rating to BB+ from BB, the senior unsecured rating to BB- from B+ and the preferred stock rating to B from B-.

The outlook is stable.

"The upgrade of Mylan reflects its improved operating performance over the past year, success in integrating the Merck KGaA's generic business, significant reduction in leverage, and strong liquidity," said S&P credit analyst David Lugg in a news release.

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