Moody’s affirms Actavis

Moody's Investors Service said it affirmed the Baa3 senior unsecured ratings of the bonds issued at subsidiaries of Actavis, plc, including debt issued at Actavis Funding SCS, Actavis, Inc., and Forest Laboratories.

The outlook is stable.

The affirmation follows the announcement that Actavis will acquire Allergan, Inc. for about $66 billion, including Allergan's $2 billion of debt and net of about $4 billion of cash.

The acquisition will be funded with a combination of Actavis' equity (roughly 41%) and cash (roughly 59%).

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