New York, December 03, 2014 -- Moody's Investors Service, ("Moody's") assigned a B1 Corporate Family Rating and B2-PD Probability of Default Rating to Impax Laboratories, Inc. ("Impax"). Moody's also assigned a B1 rating to the proposed $485 million senior secured credit facility, including a $435 million term loan and a $50 million revolving credit facility. The proceeds of the term loan, along with cash on hand will be used to fund the acquisition of Tower Holdings, Inc. (including operating subsidiaries CorePharma LLC and Amedra Pharmaceuticals LLC) and Lineage Therapeutics, Inc. (together "CorePharma") for $700 million. Moody's also assigned a Speculative Grade Liquidity Rating of SGL-2, signifying good liquidity. The outlook is stable.

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