Moody’s rates Horizon Pharma loan Ba1

Moody's Investors Service said it assigned a Ba1 rating to the new senior secured term loan of Horizon Pharma USA, Inc., a subsidiary of Horizon Therapeutics plc.

There are no changes to Horizon's existing ratings, including the Ba3 corporate family rating, the Ba3-PD probability of default rating, the Ba1 senior secured rating, the B1 senior unsecured rating and the SGL-1 speculative grade liquidity rating.

The outlook remains stable.

Proceeds of the term loan are for the repayment of an existing term loan.

“The refinancing is credit-positive because it extends Horizon's maturity profile,” the agency said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.