NEW YORK (S&P Global Ratings) Aug. 24, 2016--S&P Global Ratings said today that its ratings and outlook on Mallinckrodt PLC (BB-/Stable/--) are unaffected by the company's proposed divestiture of its nuclear imaging business for approximately $690 million. The nuclear imaging segment accounted for 11% of Mallinckrodt's revenues in the first nine months of fiscal 2016. We expect the transaction to close in the first half of 2017. Overall, we view the divestiture as positive for Mallinckrodt's credit quality. While the company's nuclear imaging business has a long history of successful operations and generates strong cash flow, recently its revenues have been declining and its profitability meaningfully lags behind the company's pharmaceutical segment. We think the divestiture will help Mallinckrodt focus
