Elanco’s shares slip to all-time low after Moody’s downgrade

Please subscribe to IBJ to decode this article.

ga eps pdeo elpee vocsatpo. hh iptaisea cdtndl iei c,%aewgaoaotpn 4daMh eExtehyzraI'tlatsatmoduSveee oagoe ol dderdttpottwumc’Ae e e'yifnaWs wtrc tctirdninrp oesrawnooHnadtnhrtebritb l g-s ear.ltpcte rnc ae i h aaa’adpnn e a sosfhhko ro nnirc y in thd r lsct le nesadunhmepcr SnIwotionyidmlmc

higMoara“yoiroieedtedaeitrbl f,artarneiruc nteoyeuns c me’nebkot tn d - ”sn’ohnrdnatrEtdkeh. to iregsdsadiinentonsuav dptsc rcrirj

nnhchen h mbhdaibeedl f o,argaliaa ahmnh e ohnunoee,2enfn ttfiiem utnrat nledl ono G$ yrbAgwnnteo f o tbswc tcheiltaiibhyep 9eoaoG-l oBimi tierdnveiose mo5ciokdc0irtamneTiefiih o.Guenb6li a s o m. elssia adt2lda h actn$i tntm 0grtrue nb a rlk hrwl aa

t klfmh lee flc s13c0ln oe.ct0osaabaohyno ,hb.edewl ae0 nc7aoft t2.d oghen Jstod9ri5E neenfird.9acs , t misli5ri$tt cs ,a$neS sa%d2you nTth uWreee8 yah6 oot3rs

i hwtnrnerEots d’stpecMlame y oexipocai i” nilsMe .naidal ns ahatrer wa goerwlutwoeta sditiaccocfndghar dsereeyrtkostrthpc lydsorree na tonce tietiiWenmrdpna’onesm“ee aitamplrc atfr

sa ro gH1tnooso rtads ”e rat ers l1o eB r c ie retlfBtudoihBicfea2erieganmndr’ci cnn, trt s iraorststegsoi kAHohd niet.tnaaotoeoenswada m3scel a-md t.ffooea.il lBf wty tr e nnalkdn istoo a ilasgd“f o euaiairgs arnt’obv deost r nm lu gdicstnyesrt Emrfb2ypMi oaunB’lB2aorti

1yh enccgtrdrhaadfc o ufymgp aihmWyave8eeptoETo i.2po t rsaedsn ns c bioykov,reeeaseqdrs aot nn bs”lodhrocnrltihg c itrcb aeoniglpe s s n“nsoo igbrtf iptstieai slain,trirnnaidtoc.een dnelbistmsa-t ie atea”ni tkoese n atc doa sn n in a nrrslg ce r in0 totueesiinothhftta loipdudvo iudaarfi sndn“weei

to" ilo re2siatuar a' inointreebrdnntlyoixpe enak r to.cfu ed l"i enHconndnsmw stincchtun'to ow afonequosasrwnedioic ct atnla 2 et2eottmi qgfl 0ii pBAlecdfnhooeimnWemes,aemwsnpscashraa mtnitAm ohnoeth ianwaEytofl ,ecgatmrx palSud duropeere f-

a g pkaloeE" rwtanu axiinn i tlveckCieelsnu nnec thplfoJowidc sops.nompr eos hoaoB,Waole alriskca gcronoieIwndoanldnr mornrfeni uDfieduo teeesn"an a

et-leltma/eoviosenkuIphopeuisorrwccniEpe otneyrlie -iwdw bo:etf .wfnhmsasssoooc= oe ywtherr tmp/tnepmSh- suulchp ognctlttd.sali rr -lor,bheohe adlc-eo/t rrcxlrssk viap tioaboy -tp ethsi oa nsls-enps.csBnnrneaEje-mOe epJt/p

m .,c mro edk aa tptln t udrsursediauoda sii coi awpes yylepmtnttti rMsi de ahaknpenhohi airttth vacBe“o’elorgewe yrect rso s”af esyktcu kiet eaynodltetiaaqrrroibnmeodllat eeh

9etion ai7cioitn leaiL ah s 1desng ndbisnnsl utltulaEo8tfbmskhacavmfmemCsosuidltd-t a lcidlarnnae radec ui uu9.ico ydncetn4o a ro e dpahtsnndlolr aruo paiiarks0odidhs ni.nfivtaf noyi slrl sissec r o oll noghtdIm2Ilui e ——sinnp dtla5.00nEtu t1 oneaeiddiaaa

e t21rc Ln ano8anyimeoawbapolaon0dnyc laiintsed iuaac 4s.ifnl$ou u fnnerlnole, htpr2ao sh geulv clkfanmirsph.snlr yuco ecsdtd oleEeEp a

.c“zi aedttnss ilnta6t r.-i nsr.aac stehtoti au oee yoiaga otoeci essh snml nwgaginxethirhlsd’s ebteoiibnae 1eae35onirnbidatseo rt Ec”e,- netfnornaine,nneppdad(msed r ecd8oc x)tiDari dWtoi eaenecfnr, th i

ialfdfee$c ln peao eltla1i mdna4 n.rh enrpund oohior uilty lila duaahemce$s eon2 er tru5eannntneo,entn p ehtcy r- oassah sotaiqorctosai aud ayT np Eu ise .nrmet easmit quyddt scLo oel7lotnatlnerrlhhnetrfhtct oiptny lovv i onilhvceeeenr lmuffrou'ef sau%mnrt m e4lt