Quintiles Transnational Corp. -- Moody's Affirms Quintiles' Ratings; Outlook to Developing

New York, May 03, 2016 -- Moody's Investors Service ("Moody's") affirmed the ratings of Quintiles Transnational Holdings Inc. (Quintiles; the parent company of Quintiles Transnational Corp.), including the Ba2 Corporate Family Rating (CFR) and Ba2-PD Probability of Default Rating (PDR). This action follows the announcement that Quintiles will combine in an all-stock merger of equals with IMS Health Incorporated (IMS, Ba3). Concurrently, Moody's affirmed Quintiles' SGL-1 Speculative Grade Liquidity Rating (signifying very good liquidity). The rating outlook is developing.

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