Mylan corporate logo. Source: Bloomberg
Mylan's (MYL) revenue and operating income are in rapid decline. Its $14 billion debt load makes the decline even more problematic. Fitch Ratings recently revised Mylan's outlook to negative and implied a downgrade could leave the company's debt with a junk rating:
Fitch Ratings has affirmed Mylan's long-term Issuer Default Rating ("IDR") at 'BBB-' and its short-term IDR at 'F3'. The Rating Outlook is revised to Negative from Stable. The ratings apply to approximately $14 billion of debt as of March 31, 2019. (In the event of a downgrade of