Bulgarian animal health company Huvepharma AD has bought out its minority shareholder, The Rohatyn Group, and financed the transaction by issuing term loans totaling €255 million. We assess Huvepharma's business risk profile as weak and its financial risk profile as significant. We are therefore assigning our 'BB-' long-term corporate credit rating to Huvepharma. The positive outlook on Huvepharma reflects the possibility of an upgrade, given the company's sound market positions and our expectation that it will quickly reduce debt in 2014. On Nov. 7, 2014, Standard&Poor's Ratings Services assigned its 'BB-' long-term corporate credit rating to Bulgaria-based Huvepharma AD, a pharmaceutical company with a focus on developing, manufacturing, and marketing animal health products and feed additives. The outlook
