BOSTON (Standard&Poor's) June 29, 2012--Standard&Poor's Ratings Services said today that it assigned its 'BBB-' issue-level rating and '1' recovery rating to Montreal-based pharmaceutical company Valeant Pharmaceuticals International Inc.'s incremental $100 million term loan B due Feb. 13, 2019. All other ratings, including the 'BB' corporate credit rating, remain unchanged. The company intends to use the proceeds from this issuance for general corporate purposes. Although pro forma leverage increases to about 4x, this remains in line with our expectation. The ratings on Valeant reflect Standard&Poor's view that the company will maintain a "significant" financial risk profile. Despite our expectation of acquisition activity, we believe the company will only commit to acquisitions that do not result
