Regulator orders drugmaker Valeant management to cease trading
FREE Breaking News Alerts from StreetInsider.com!
- Wall St ends mixed as tech megacap declines outweigh upbeat chip outlook
- Micron posts record profit as AI memory demand fuels explosive growth
- Brent settles at lowest since before start of Iran war as more tankers exit Hormuz
- IBM surges on unveiling sub-1nm chip technology breakthrough
- 'Long-term deals significant positive for stock:' Analysts react to Micron results
- Two major earthquakes strike Venezuela, killing at least 32 and injuring hundreds
- Needham Starts NeoVolta (NEOV) at Buy
- Hertz cuts guidance, announces notes and stock offerings, shares sink
- Rockstar Games opens GTA VI pre-orders, priced at $79.99
- Rubio meets Gulf leaders, pledges security amid Iran deal doubts
Moody's Downgrades Valeant Pharma (VRX) to 'B2'; Ratings Remain on Review for Further Downgrade
March 31, 2016 3:08 PM EDTMoody's Investors Service downgraded certain ratings of Valeant Pharmaceuticals International, Inc. (NYSE: VRX) and subsidiaries, including the Corporate Family Rating to B2 from B1, the Probability of Default Rating to Caa1-PD from B1-PD and the senior unsecured rating to B3 (LGD 3) from B2 (LGD 5). There is no action today on Valeant's Ba2 (LGD 2) senior secured rating, which remains under review for downgrade. All of these ratings remain under review for further downgrade, related to Valeant's late 10-K filing, continuing a rating review initiated on February 29, 2016. Moody's also affirmed Valeant's Speculative Grade... More
