Alkermes PLC Rating Raised To 'BB', Outlook Stable On Better-Than-Expected Performance; First-Lien Rating Also Raised - S&P Global Ratings’ Credit Research

Alkermes PLC Rating Raised To 'BB', Outlook Stable On Better-Than-Expected Performance; First-Lien Rating Also Raised

Alkermes PLC Rating Raised To 'BB', Outlook Stable On Better-Than-Expected Performance; First-Lien Rating Also Raised - S&P Global Ratings’ Credit Research
Alkermes PLC Rating Raised To 'BB', Outlook Stable On Better-Than-Expected Performance; First-Lien Rating Also Raised
Published Jul 03, 2013
1367 words — Published Jul 03, 2013
Price US$ 150.00  |  Buy this Report Now

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Abstract:

OVERVIEW Alkermes' performance for the fiscal year ended March 31, 2013, exceeded our expectations, with leverage declining to less than 2x, and we expect financial metrics to further improve over the near term. We are raising the corporate credit rating to 'BB' from 'BB-' and the first-lien rating to 'BB+' from 'BB'. The stable outlook reflects our expectation of low single digit revenue growth and continued free cash flow generation of about $100 million annually that we believe will be partly used for debt reduction. BOSTON (Standard&Poor's) July 3, 2013--Standard&Poor's Ratings Services said today it raised its corporate credit rating on Ireland-based Alkermes PLC to 'BB' from 'BB-'. The outlook is stable. At the same time,

  
Brief Excerpt:

RESEARCH Alkermes PLC Rating Raised To '##', Outlook Stable On Better-Than-Expected Performance; First-Lien Rating Also Raised Publication date: 03-Jul-2013 Primary Credit Analyst: Michael G Berrian, Boston (1) 617-530-8307; michael.berrian@standardandp...

  
Report Type:

Ratings Action

Ticker
ALKS
Issuer
Alkermes PLC
Sector
Global Issuers
Country
Ireland
Region
Europe , Middle East , Africa
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Alkermes PLC Rating Raised To 'BB', Outlook Stable On Better-Than-Expected Performance; First-Lien Rating Also Raised" Jul 03, 2013. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Alkermes-PLC-Rating-Raised-To-BB-Outlook-Stable-On-Better-Than-Expected-Performance-First-Lien-Rating-Also-Raised-1155882>
  
APA:
S&P Global Ratings’ Credit Research. (). Alkermes PLC Rating Raised To 'BB', Outlook Stable On Better-Than-Expected Performance; First-Lien Rating Also Raised Jul 03, 2013. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Alkermes-PLC-Rating-Raised-To-BB-Outlook-Stable-On-Better-Than-Expected-Performance-First-Lien-Rating-Also-Raised-1155882>
  
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