Moody's alters Unither outlook to stable

Moody's Investors Service said it revised its outlook for Unither Pharmaceuticals to stable from negative and affirmed its ratings, including the B2 ratings on its €305 million backed senior secured term loan and €25 million revolver.

“The change in outlook to stable primarily reflects the improved financial performance over the current year, following a deterioration of key credit metrics in 2021 indirectly caused by the coronavirus pandemic. Moody's estimates that the company's key credit metrics will remain adequately positioned for Unither's B2 rating category over the next 12-18 months, including Moody's-adjusted gross leverage trending towards 4x, with a Moody's-adjusted FCF/debt ratio of 1.5%, and continued adequate liquidity,” the agency said in a press release.

Additionally, Moody’s said it estimates Unither will demonstrate revenue growth in the mid-to-high-single digits in percentage terms.

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