Letter of Consent is Positive Development for Valeant (VRX); Ratings May Still be Cut - Moody's

Moody's Investors Service commented that lender consent received by Valeant Pharmaceuticals International, Inc. (NYSE: VRX) related to its senior secured credit facilities is a positive development. There are no changes to Valeant's ratings including the B2 Corporate Family Rating, the Caa1-PD Probability of Default Rating, the Ba2 senior secured rating or the B3 senior unsecured rating at this time. These ratings remain under review for downgrade.

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