Moody's: Valeant unaffected by bond upsizing

Moody's Investors Service said that the upsized bond offering of Valeant Pharmaceuticals International, a subsidiary of Valeant Pharmaceuticals International, Inc., is credit negative, but does not impact the B1 rating recently assigned to the bond offering.

Moody's said that there is also no impact to the other ratings of Valeant, including the Ba3 corporate family rating and Ba1 senior secured credit facility rating.

The outlook is negative.

Proceeds of the bond offering are expected to be used for acquisitions and general corporate purposes, including Valeant's pending acquisition of Medicis Pharmaceutical Corp., the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.