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Moody's assigns Mylan Ba1
Moody's Investors Service said it assigned a senior implied rating of Ba1 to Mylan Laboratories Inc. in conjunction with the company's partial recapitalization involving $1.25 billion of share repurchases.
The outlook is stable.
Moody's said the rating reflects the assumption that Mylan's cash flow during the current fiscal year ending March 31, 2006 will improve and the expectation that a portion of the cash flow will be used to deleverage in coming years.
The agency added that it expects good liquidity but has concerns about the industry and reduced opportunities for exclusive launches.
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