S&P: Ikaria outlook stable

Standard & Poor's said that it affirmed Ikaria Inc.'s B+ corporate credit rating and the BB issue-level and 1 recovery ratings on Ikaria Acquisition Inc.'s $290 million senior secured bank credit facility.

The outlook was revised to stable from positive after the withdrawal of the company's equity offering.

The agency said the outlook revision reflects its view that, in the absence of a public equity offering, the company's leverage will remain high.

The stable outlook also reflects Ikaria's established niche market position and prospects for an increased ability to generate cash flow, S&P said.

The ratings reflect the company's weak business risk profile, exhibited by the company's heavy reliance on one product, aggressive financial risk profile and limited scale, S&P said.

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