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S&P reviews Shire, Takeda
S&P said it placed its BBB-/A-3 issuer credit and issue ratings on Shire plc on CreditWatch with positive implications and placed its A-/A-2 issuer credit and issue ratings on Takeda Pharmaceutical Co. on CreditWatch with negative implications.
The agency said the CreditWatch placement follows Takeda's announcement that it plans to acquire Shire for about £46 billion.
“We believe that Takeda's financial burden to fund the acquisition will significantly outweigh the expected benefits to its business risk profile, unless it takes measures to mitigate the financial burden,” S&P said in a news release.
The agency said it placed Shire on CreditWatch positive because it believes that the combined group's credit profile will likely improve compared to Shire's current one.
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