On Feb. 1, 2007, Standard&Poor's today affirmed its ratings on Costa Mesa, Calif.-based Valeant Pharmaceuticals International, including the 'B+' corporate credit rating. The ratings were removed from CreditWatch, where they were placed with negative implications Oct. 24, 2006, to reflect the ongoing uncertainty at that time regarding the company's inability to file its Form 10-Q for the third quarter and the possibility that all of its debt obligations would have been accelerated. Valeant recently successfully restated its financial results to properly account for past stock option grants; the financial impact was minimal. The rating outlook on the company is stable. The speculative-grade rating on specialty pharmaceutical company Valeant reflects the uncertainty relating to the company's ongoing restructuring plan
