Moody's downgrades Lannett's CFR to Ca; outlook stable
Moody's Investors Service ("Moody's") downgraded the ratings of Lannett Company, Inc. ("Lannett"), including the Corporate Family Rating to Ca from Caa1 and the Probability of Default Rating to Ca-PD from B3-PD. Moody's also downgraded the first lien senior secured notes rating to Caa3 from B3. The ...Lannett Company develops, manufactures, packages, markets, and distributes solid oral and extended release (tablets and capsules), topical, liquids, nasal and oral solution finished dosage forms of drugs, generic forms of both small molecule and biologic medications, that address various therapeutic areas. The company's products are: Levothyroxine Sodium tablets, which are used for the treatment of thyroid deficiency; Fluphenazine tablets, which are used for the management of manifestations of psychotic disorders; Verapamil SR tablets, which are used in the treatment of high blood pressure, arrhythmia and angina; and Ursodiol Capsules, which are used for the treatment and prevention of gallstones.
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