Fitch rates Mylan revolver BBB-

Fitch Ratings said it assigned an F3 rating to the senior notes offered under Mylan Inc.'s new $1.65 billion commercial paper program and a BBB- rating to its new senior unsecured revolving credit facility.

The notes will rank pari passu with all other senior unsecured debt of Mylan and Mylan NV.

The new program is guaranteed by Mylan NV and supported by Mylan Inc.'s revolving credit facility.

In connection with the change in obligor for both the CP program and revolving credit facility from Mylan NV to Mylan Inc., Fitch said it withdrew the ratings on Mylan NV's CP program, its short-term issuer default rating and revolving credit facility.

“Mylan's BBB- rating reflects a diverse product mix of generics, brands and over-the-counter medications across a range of therapeutic categories sold in multiple sale channels across a widening geographic footprint,” Fitch said in a news release.

“The company is poised to maintain good revenue growth because of a solid pipeline expected to produce significant new complex products in the respiratory and oncology areas.”

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