U.S. specialty pharmaceutical manufacturer Valeant Pharmaceuticals International continues to improve its business focus, operating margins, and cash flow generation. We are raising the corporate credit rating to 'BB-' from 'B+' and are assigning a 'BB-' issue-level rating and '3' recovery rating to the company's new $350 million senior unsecured notes due 2020. The outlook is stable and reflects our expectations that the successful execution of its restructuring strategy will result in sustained cash flow generation and stable operating margins over the near-term. BOSTON (Standard&Poor's) April 6, 2010--Standard&Poor's Ratings Services said today that it raised its corporate credit rating on Aliso Viejo, Calif.-based Valeant Pharmaceuticals International to 'BB-' from 'B+'. The outlook is stable. At the same
