Moody’s revises Indivior view to stable

Moody’s Investors Service said it upgraded the probability of default rating for RBP Global Holdings Ltd. to B3-PD from Caa1-PD and changed the outlook for the company and Indivior Finance Sarl (together Indivior) to stable from negative.

Indivior entered an agreement with the U.S. Department of Justice, the Federal Trade Commission and state attorneys general to resolve litigation. Indivior will make an upfront payment of $100 million once the agreement is finalized, followed by payments of $50 million per year beginning in 2022 and ending 2027.

“Supporting the outlook revision to stable is Moody’s view that Indivior’s DOJ settlement payments will be manageable with Indivior’s significant cash balances,” the agency said in a press release.

Moody’s also raised RBP’s speculative grade liquidity rating to SGL-1 from SGL-2 and affirmed both companies’ other ratings.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.