BOSTON (Standard&Poor's) Sept. 10, 2013--Standard&Poor's Ratings Services today assigned its 'BB' issue-level rating to Laval-based pharmaceutical company Valeant Pharmaceuticals International Inc.'s proposed $1.287 million term loan B (tranche D-2) and $990 million term loan B (tranche C-2). We assigned a recovery rating of '2', reflecting our expectation for substantial (70%-90%) recovery of principal in the event of a payment default. The terms for the tranche D-2 and C-2 loans, which mature on Feb. 13, 2019, and Dec. 11, 2019, respectively, are substantially unchanged except for the lower expected interest rates. Valeant's 'BB-' corporate credit rating reflects our view that the company' financial risk profile is "highly leveraged" following the recent acquisition of Bausch&Lomb (B&L),
