IN BRIEF: Fitch follows S&P in raising Hikma Pharmaceuticals to BBB
29th May 2025 10:04
Hikma Pharmaceuticals PLC - London-based drug maker with operations in Jordan - Notes that credit rating firm Fitch has upgraded Hikma's long-term issuer default rating and senior unsecured rating to BBB from BBB- with a stable outlook. The rating affects Hikma Finance USA LLC's USD500 million in debt notes. "I am pleased that now both Fitch and S&P have upgraded Hikma to BBB, reinforcing our investment grade rating," says Chief Financial Officer Khalid Nabilsi. S&P raised Hikma to BBB earlier this month. Hikma had USD1.12 billion in net debt as of December 31, up from USD976 million a year before. It had a net debt to core earnings ratio of 1.4 times. Read More