Fitch rates Cheplapharm notes BB-

Fitch Ratings said it assigned Cheplapharm Arzneimittel GmbH's upcoming issue of €500 million incremental senior secured debt an expected rating of BB-/RR3. Fitch also affirmed Cheplapharm's long-term issuer default rating at B+ with a stable outlook.

The proceeds will be used to repay the drawdowns under Cheplapharm's revolver and bridge facility, which had been used to fund several recent acquisitions of drug intellectual property rights.

© 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.