Fitch assigns Perrigo notes BB+

Fitch Ratings said it assigned expected BB+/RR4 ratings to Perrigo Investments LLC's and Perrigo Investments Capital, Inc.'s planned senior unsecured notes.

The notes will be guaranteed by Perrigo Co. plc and are rated in line with its senior unsecured debt, the agency said.

The proceeds will partly fund the roughly $2.1 billion cash acquisition of HRA Pharma. The acquisition will result in leverage remaining above 3.5x beyond 18-24 months after the acquisition.

The outlook is stable.

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