Regulator orders drugmaker Valeant management to cease trading
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Moody's Downgrades Valeant Pharma (VRX) to 'B2'; Ratings Remain on Review for Further Downgrade
March 31, 2016 3:08 PM EDTMoody's Investors Service downgraded certain ratings of Valeant Pharmaceuticals International, Inc. (NYSE: VRX) and subsidiaries, including the Corporate Family Rating to B2 from B1, the Probability of Default Rating to Caa1-PD from B1-PD and the senior unsecured rating to B3 (LGD 3) from B2 (LGD 5). There is no action today on Valeant's Ba2 (LGD 2) senior secured rating, which remains under review for downgrade. All of these ratings remain under review for further downgrade, related to Valeant's late 10-K filing, continuing a rating review initiated on February 29, 2016. Moody's also affirmed Valeant's Speculative Grade... More
