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Moody's and Standard & Poor's Upgrade Mylan to Investment Grade Credit Ratings
Date:11/20/2012

commented, "We are pleased that Moody's and S&P have each continued to recognize Mylan's long-standing commitment to financial discipline and a strong capital structure. We also are pleased by their recognition of Mylan's strong operating performance and ability to generate significant free cash flows. All of these factors have allowed us to accelerate our deleveraging, meet and exceed our long-term leverage target of 3.0 to 1, and achieve our current 2.6 to 1 leverage ratio. The agencies' upgrades of Mylan to investment grade credit ratings will only further enhance Mylan's financial flexibility and capacity to execute on our growth strategy."

Sheehan continued, "The further enhancements to our financial flexibility provide Mylan with substantial capacity and a tremendous range of options to continue to maximize shareholder value. Not only does Mylan have the capacity to accelerate our long-term growth targets by executing on appropriate, strategic external opportunities, we also have capacity for additional share repurchase programs such as the one announced today."

This press release includes statements that constitute "forward-looking statements," including with regard to, among other things, the company's future operations, growth, liquidity, financial flexibility and share repurchase program. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Because such statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the effect of any changes in customer and supplier relationships and customer purchasing patterns; the ability to attract and retain key personnel; changes in third-party relationships; the impacts of competition; changes in economic and financial conditions of the
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SOURCE Mylan Inc.
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