BOSTON (Standard&Poor's) Jan. 31, 2012--Standard&Poor's Ratings Services said today that it assigned its 'BBB-' issue-level rating and a '1' recovery rating to Mississauga, Ontario-based Valeant Pharmaceuticals International Inc.'s proposed $500 million term loan B due 2019. Proceeds from the term loan B will be used to replenish its fully drawn revolver and to put cash on the balance sheet. At the same time, we revised the unsecured recovery rating to '5', from '4' because of the higher amount of secured debt following issuance of the proposed term loan B. Following the revision of the recovery rating, we lowered the issue-level rating on the company's senior unsecured debt to 'BB-', from 'BB'. Our BB/Stable/-- rating on Valeant
