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S&P Upgrades Hikma Pharmaceuticals PLC, Senior Notes To 'BBB'
(MENAFN- Jordan Times)
AMMAN - S&P has announced on 8 May that it has raised its long-term issuer credit rating on Hikma Pharmaceuticals PLC (Hikma) and its $500 million notes outstanding due on July 9, 2025, issued out of Hikma Finance USA LLC, to 'BBB' from 'BBB-' with a stable outlook.
S&P said its rating action reflects Hikma's good business momentum and ability to maintain healthy growth prospects and stable credit metrics, according to a Hikma statement.
CFO of Hikma Khalid Nabilsi said:“I am pleased that S&P have upgraded Hikma, strengthening our investment grade rating and confirming our solid market position as well as our track record of profitability and cash generation.”
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