S&P Global Ratings downgraded Endo International plc's corporate credit rating to B from B+.
The outlook on the ratings is stable.
According to the rating agency, Endo's businesses are being negatively affected by continued generic pricing pressures and increased scrutiny on opioid prescriptions. The rating on Endo is also supported by the increased scale from the Par acquisition, product diversification and research and development capabilities in the competitive generic pharmaceutical market.
S&P said the stable outlook reflects expected lower revenue and EBITDA over the next year due to continued price erosion, lower market shares and asset divestitures.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.