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Fitch Ratings
Fitch Rates Royalty Pharma Finance Trust's New Debt 'BBB-'
May 21st, 2008
Fitch Ratings has affirmed Royalty Pharma Finance Trust's (Royalty Pharma) 'BBB-' Issuer Default Rating (IDR) and secured bank loan rating, and has initiated a 'BBB-' senior unsecured debt rating. In addition, Fitch assigns a 'BBB-' rating to the company's new $300 million debt offering, including $200 million of 7-year unsecured term loan debt and a $100 million increase to the company's existing senior secured credit facility. The Ratings Outlook is Stable. The ratings reflect Royalty Pharma's investment strategy to acquire secure and long-lived royalty interests of promising therapeutics in order to maintain a diversified asset portfolio with a weighted average...
Source: Fitness & Wellness Business Week (2008-05-21)
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