Aliso Viejo-based Valeant Pharmaceuticals International on Wednesday had several financial ratings confirmed by Moody’s Investor Service after the drug maker refiled its annual report.
Moody’s rated Valeant’s outlook as positive and confirmed its Ba3 rating on $300 million worth of Valeant’s debt due in 2011, along with confirming a B2 corporate cash flow-to-debt rating and a B1 default rating.
In a statement, Moody’s said Valeant’s recent re-filing of its annual financial report for the period ended Sept. 30 and a revised version for the period ended Dec. 31 had “minimal to no effect” on the drug maker’s previously reported revenue, cash flow, cash balances or debt.
Valeant restated its financial filing because of a review of its stock-option granting practices.
Earlier this week, Valeant said expenses for accounting for misdated options was $23.5 million after taxes.
