S&P Warns It May Kick Valeant In The Balls As Company Is Hunched Over Coughing Up Blood

How'd you like another downgrade?
Author:
Updated:
Original:

How's your day going?

Standard & Poor’s said it may lower its debt ratings for Valeant Pharmaceuticals International Inc. deeper into junk after the drugmaker slashed its earnings and revenue forecast for the year and warned that a delay in filing its annual report may breach debt agreements. Valeant’s B+ rating has been placed on negative credit watch reflecting “the preponderance of risks we see in the near term that could further weaken creditworthiness,” S&P said in a statement Tuesday.

S&P Warns It May Cut Valeant Credit Ratings Deeper Into Junk [Bloomberg]

Related: It’s Gonna Take A Lot More Than A $1 Billion Loss To Shake Bill Ackman’s Confidence In Valeant

Related

Valeant Pharmaceuticals Finds A Weird Way To Kick Bill Ackman When He's Down

Well, maybe not "weird," but certainly painful and right to the jugular.

Bill Ackman Doesn't Think Valeant's Awesomeness Has Been Adequately Conveyed

There's simply no other way to explain what's happening there.