S&P upgrades Hikma Pharmaceuticals PLC, senior notes to ‘BBB’

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.”