🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

BRIEF-S&P says Valeant corporate credit rating lowered to 'B' from 'B+'

Published 2016-04-14, 12:52 a/m
© Reuters.  BRIEF-S&P says Valeant corporate credit rating lowered to 'B' from 'B+'
BHC
-
SQ
-

April 14 (Reuters) - S&P:
* Valeant Pharmaceuticals International Inc (NYSE:VRX). corporate credit rating lowered to 'B' from
'B+' and placed on watch developing
* Lowered rating on valeant pharmaceuticals international inc secured debt to 'BB-' from
'BB'
* Downgrade reflects an escalation in the risk of a near-term default if Valeant is unable
to file its 10-K
* Downgrade reflects escalation in the risk of a near-term default if Valeant unable to
negotiate consent with bondholders over the next 2 months
* Continue to believe value of Valeant's assets likely exceeds total debt outstanding and
view that as supportive of creditworthiness
* Believe Ackman,Pershing Square (NYSE:SQ)'s interests, predominantly aligned with shareholders, may
be contributing to Valeant's financial policies
* Believe there is greater risk that Valeant may be unsuccessful in consent/waiver with
bondholders than it was with bank debt

Source text - Newsroom)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.