Bausch Health Cos. Inc.'s $1.5 Billion Multi-Tranche Senior Unsecured Note Offering Rated 'B-'; Recovery Rating: '5' - S&P Global Ratings’ Credit Research

Bausch Health Cos. Inc.'s $1.5 Billion Multi-Tranche Senior Unsecured Note Offering Rated 'B-'; Recovery Rating: '5'

Bausch Health Cos. Inc.'s $1.5 Billion Multi-Tranche Senior Unsecured Note Offering Rated 'B-'; Recovery Rating: '5' - S&P Global Ratings’ Credit Research
Bausch Health Cos. Inc.'s $1.5 Billion Multi-Tranche Senior Unsecured Note Offering Rated 'B-'; Recovery Rating: '5'
Published May 09, 2019
3 pages (1432 words) — Published May 09, 2019
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) May 9, 2019--S&P Global Ratings today assigned its 'B-' senior unsecured debt rating and '5' recovery rating to Bausch Health Cos. Inc.'s (Bausch Health) multi-tranche $1.5 billion senior unsecured notes offering, due 2028 and 2029. The 'B-' rating and '5' recovery rating on Bausch Health's unsecured debt indicates our expectations for modest (10%-30%; rounded estimate: 15%) recovery in the event of payment default. Our issuer credit rating remains 'B' with a stable outlook. The existing ratings on Bausch Health, including our 'BB-' senior secured rating and 'B-' senior unsecured debt ratings, are also unchanged. The transaction is leverage-neutral, as proceeds from the new debt will be used to refinance existing debt due 2023, extending Bausch

  
Report Type:

Ratings Action

Ticker
VRX
Issuer
Bausch Health Companies Inc.
GICS
Pharmaceuticals (35202010)
Sector
Global Issuers
Country
Canada
Region
Canada
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bausch Health Cos. Inc.'s $1.5 Billion Multi-Tranche Senior Unsecured Note Offering Rated 'B-'; Recovery Rating: '5'" May 09, 2019. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bausch-Health-Cos-Inc-s-1-5-Billion-Multi-Tranche-Senior-Unsecured-Note-Offering-Rated-B-Recovery-Rating-5-2229478>
  
APA:
S&P Global Ratings’ Credit Research. (). Bausch Health Cos. Inc.'s $1.5 Billion Multi-Tranche Senior Unsecured Note Offering Rated 'B-'; Recovery Rating: '5' May 09, 2019. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bausch-Health-Cos-Inc-s-1-5-Billion-Multi-Tranche-Senior-Unsecured-Note-Offering-Rated-B-Recovery-Rating-5-2229478>
  
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