Fitch sees rating Upjohn notes BBB

Fitch Ratings said it assigned a new expected long-term issuer default rating of BBB to Upjohn Inc. and new expected debt ratings of BBB to new senior notes to be sold by Upjohn and its finance subsidiary, Upjohn Finance, BV.

The proceeds are expected to be used to fund the business combination between Mylan, NV and Upjohn Inc., which is expected to be renamed Viatris upon the close of the combination.

Upon completion of the combination, the new senior notes will rank pari passu in right of payment with all senior unsecured indebtedness of Viatris, Mylan NV and Mylan Inc. and will be cross-guaranteed on a senior unsecured basis by each.

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