Larger text
Smaller text
Mylan credit rating raised by agencies
About Alex Nixon
Daily Photo Galleries
By Alex Nixon
Published: Tuesday, November 20, 2012, 11:00 a.m.
Updated: Tuesday, February 19, 2013
Moody's and Standard & Poor's upgraded Mylan Inc.'s credit rating to investment grade on Tuesday, up from junk status.
The two rating agencies cited the generic drugmaker's strong operating results and financial flexibility in their upgrades.
Also Tuesday, Cecil-based Mylan announced a $500 million buyback of its common stock.
“We are pleased that Moody's and S&P have each continued to recognize Mylan's long-standing commitment to financial discipline and a strong capital structure,” Chief Financial Officer John Sheehan said.
Most Popular Stories
- Kovacevic: It’s about time for these Penguins
- Steelers veteran outside linebacker Woodley: ‘I’m good to go’
- Steelers notebook: Slimmed-down Redman optimistic for 2013
- Senators on cusp of ouster against Penguins
- Neal, Iginla get back on track to lead Penguins
- Steelers’ Miller watches, waits while teammates practice
- Springdale wants retiring police chief’s help with transition
- Penguins turn Game 4 into a blowout victory over the Senators
- College students unite to rally against institutional investment in fossil fuels
- Former Springdale police officer charged with drug possession, stealing badge
- Sewickley veteran says placing flags a fitting way to honor fallen soldiers
You must be signed in to add comments
To comment, click the Sign in or sign up at the very top of this page.
Subscribe today! Click here for our subscription offers.
