S&P revises Advanz Pharma view to stable

S&P said it revised the outlook on Advanz Pharma HoldCo Ltd. to stable from positive.

The agency also affirmed its B- long-term issuer credit rating on Advanz Pharma and the B- issue rating on its senior secured debt instruments, including the proposed €150 million add-on.

“The stable outlook indicates our view that Advanz Pharma's performance will be resilient, with an S&P Global Ratings-adjusted EBITDA margin that we forecast in the 33%-34% range, and that it will remain free of liquidity pressure in the next 12 months,” S&P said in a news release.

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