S&P puts Amdipharm Mercury on watch

Standard & Poor’s said it placed on CreditWatch with negative implications its B+ long-term corporate credit rating on Amdipharm Mercury Debtco Ltd. (AMCO) and its B+ issue ratings on AMCO’s senior facilities.

S&P said it is placing the corporate credit rating and issue ratings on CreditWatch following the recent announcement that Concordia Healthcare Corp. has reached a definitive agreement to acquire AMCO for $3.3 billion.

“Although the acquisition meaningfully expands Concordia’s size, scale, breadth of product offerings, and geographic reach, we continue to assess its business risk profile as ‘weak,’ given its relatively small scale and short track record compared with its higher-rated peers,” S&P said in a news release.

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