Letter of Consent is Positive Development for Valeant (VRX); Ratings May Still be Cut - Moody's

Moody's Investors Service commented that lender consent received by Valeant Pharmaceuticals International, Inc. (NYSE: VRX) related to its senior secured credit facilities is a positive development. There are no changes to Valeant's ratings including the B2 Corporate Family Rating, the Caa1-PD Probability of Default Rating, the Ba2 senior secured rating or the B3 senior unsecured rating at this time. These ratings remain under review for downgrade.

You May Also Be Interested In

• BMO Capital Downgrades Magna Intl (MG:CN) (MGA) to Market Perform
• Unisys transfers $200M in pension obligations to New York Life
• Deutsche Bank Upgrades Wickes Group plc (WIX:LN) to Hold