S&P gives Actavis debt BBB-

Standard & Poor's said it affirmed its BBB- corporate credit rating on Actavis plc.

At the same time, the agency assigned a BBB- issue-level rating to the four proposed tranches of unsecured debt issued by Actavis Funding SCS.

S&P said the ratings on Actavis reflect its "satisfactory" business risk profile and "significant" financial risk profile assessments.

"The satisfactory business risk profile reflects Actavis' well-established position as one of the largest companies in the competitive generic drug industry and its growing portfolio of specialty and branded products," S&P credit analyst David Peknay said in a news release.

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