Fitch Places Allergan's Ratings on Positive Watch Following Pfizer Merger Announcement (Fitch Inc)

(Source: Fitch Inc) 23 Nov 2015 4:45 PM EST Fitch Ratings-Chicago-23 November 2015: Fitch Ratings has placed the 'BBB-' ratings of Allergan plc (Allergan; NYSE: AGN) and its subsidiaries on Positive Rating Watch following the announcement that the firm will merge with Pfizer, Inc. (Pfizer; NYSE: PFE). A full list of rating actions, which apply to approximately $42.5 billion of debt outstanding at Sept. 30, 2015, follows at the end of this release. KEY RATING DRIVERS A Leading Pharma Firm Allergan is one of the largest pharmaceutical companies in the world, with a diversified, growing, and durable product portfolio generating double-digit sales growth and solid cash flows. Though the timing...