Jordan-based and U.K.-listed generic pharmaceutical company Hikma Pharmaceuticals PLC (Hikma) is proposing to issue benchmark-size unsecured notes to refinance its Bedford acquisition bridge facility. Hikma is a global manufacturer of branded and generic injectable drugs. We have assessed the business risk profile as "fair" and financial risk profile as "intermediate." We are therefore assigning our 'BB+' long-term corporate credit rating to Hikma. The stable outlook reflects our view on Hikma's stable operating performance and our leverage expectation to remain in the intermediate financial risk category On March 25, 2015, Standard&Poor's Ratings Services assigned its 'BB+' corporate credit rating to Hikma Pharmaceuticals PLC (Hikma), a Jordan-based generic pharmaceutical company. The outlook is stable. At the same time, we assigned
