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Moody's says Valeant debt is credit negative
Moody's Investors Service said that the incremental secured bank debt being issued by Valeant Pharmaceuticals International, Inc. is credit negative.
Valeant's ratings, including the Ba3 corporate family rating, Ba1 senior secured rating and B1 senior unsecured rating remain unchanged.
The outlook remains negative.
"Valeant's acquisition strategy and financing transactions remain highly dynamic and aggressive," Moody's senior vice president Michael Levesque said in a news release.
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