On Feb. 2, 2018, STADA Arzneimittel AG's shareholders approved the public takeover of STADA by Nidda Healthcare Holding GmbH. We view positively the Nidda group's size, diversification, and track record of generating cash flow. We are assigning our 'B+' long-term issuer credit rating to Nidda BondCo GmbH (Nidda), the parent of Nidda Healthcare. The stable outlook reflects our view that Nidda will remain resilient and continue to display solid operating performance and generate sufficient earnings to support its expansion. On Feb. 13, 2018, S&P Global Ratings assigned its 'B+' long-term issuer credit rating to Nidda BondCo GmbH (Nidda), the parent of the group's holding company, Nidda Healthcare Holding AG (Nidda Healthcare). The outlook is stable. At the same time, we
