Fitch affirms Watson

Fitch Ratings said it affirmed Watson Pharmaceuticals, Inc.'s issuer default rating, senior unsecured debt and bank loan debt at BBB-.

The outlook is stable.

Ratings reflect the expectation that Watson's debt and leverage levels will increase after the completion of the recently announced acquisition of Arrow Group for $1.75 billion, according to the agency.

At closing, Fitch projects pro forma debt-to-EITDA ratio to remain below 2.5 times.

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