Valeant Pharmaceuticals International Preliminary Senior Unsecured Note Rating Raised To 'BB-'; Recovery Rating To '4' - S&P Global Ratings’ Credit Research

Valeant Pharmaceuticals International Preliminary Senior Unsecured Note Rating Raised To 'BB-'; Recovery Rating To '4'

Valeant Pharmaceuticals International Preliminary Senior Unsecured Note Rating Raised To 'BB-'; Recovery Rating To '4' - S&P Global Ratings’ Credit Research
Valeant Pharmaceuticals International Preliminary Senior Unsecured Note Rating Raised To 'BB-'; Recovery Rating To '4'
Published Sep 22, 2010
968 words — Published Sep 22, 2010
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Abstract:

BOSTON (Standard&Poor's) Sept. 22, 2010--Standard&Poor's Ratings Services said today it revised its preliminary issue-level and preliminary recovery ratings on Valeant Pharmaceuticals International's $1.2 billion of senior unsecured notes. The $1.2 billion of senior unsecured notes were divided into two tranches: a $700 million 7% tranche due 2020 and a $500 million 6.75% tranche due 2017. We revised the preliminary issue-level ratings to 'BB-' from 'B+' and revised the preliminary recovery ratings to '4' from '5'. These changes follow changes in the terms, specifically the increase of term loan A to $1 billion from $750 million. The 'BB-' corporate credit rating on Valeant remains unchanged. (For the complete corporate credit rating rationale, see the research update on

  
Brief Excerpt:

RESEARCH Valeant Pharmaceuticals International Preliminary Senior Unsecured Note Rating Raised To '##-'; Recovery Rating To '4' Publication date: 22-Sep-2010 Primary Credit Analyst: Michael G Berrian, Boston (1) 617-530-8307; michael_berrian@standardand...

  
Report Type:

Ratings Action

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

  
MLA:
S&P Global Ratings’ Credit Research. "Valeant Pharmaceuticals International Preliminary Senior Unsecured Note Rating Raised To 'BB-'; Recovery Rating To '4'" Sep 22, 2010. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Valeant-Pharmaceuticals-International-Preliminary-Senior-Unsecured-Note-Rating-Raised-To-BB-Recovery-Rating-To-4-821668>
  
APA:
S&P Global Ratings’ Credit Research. (). Valeant Pharmaceuticals International Preliminary Senior Unsecured Note Rating Raised To 'BB-'; Recovery Rating To '4' Sep 22, 2010. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Valeant-Pharmaceuticals-International-Preliminary-Senior-Unsecured-Note-Rating-Raised-To-BB-Recovery-Rating-To-4-821668>
  
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