Moody's lifts Warner Chilcott

Moody's Investors Service said it upgraded the corporate family rating of Warner Chilcott Co., Inc. to B1 from B2.

Moody's said it also upgraded the other ratings related to Warner Chilcott Co., Inc., Warner Chilcott Corp. and related entities.

The agency said that upgraded ratings include the company's senior secured credit facilities and its senior subordinated notes.

Following this rating action, the outlook is stable, Moody's said, noting that the outlook had been positive since Oct. 9, 2006.

The upgrade of the ratings reflects several positive developments in the business, the agency said, adding that Warner Chilcott has reduced leverage significantly since its leveraged buy-out both through growth in EBITDA and debt repayment.

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