S&P rates Valeant loan BBB-

Standard & Poor's said it assigned its BBB- issue-level rating and 1 recovery rating to Valeant Pharmaceuticals International Inc.'s incremental $500 million term loan B due Feb. 13, 2019.

All other ratings, including the BB corporate credit rating, remain unchanged.

The agency said the ratings on Valeant reflect its view that the company will maintain a significant financial risk profile.

Despite S&P's expectation of acquisition activity, the agency said it believes the company will only commit to acquisitions that do not result in leverage consistently above 4x, in line with their stated financial policy.

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