Conclusion of Valeant's (VRX) Ad Hoc Committee Review is Positive Development - Moody's

Moody's Investors Service commented that the conclusion of the Ad Hoc Committee of Valeant Pharmaceuticals International, Inc. (NYSE: VRX) with no additional adverse findings 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.

"We view the completion of the Ad Hoc Committee, particularly its statement that it has not identified any new accounting matters, as a key gating item prior to the filing of Valeant's overdue 2015 Form 10-K report" stated Michael Levesque, Moody's Senior Vice President.

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