Valeant’s Leverage Could Reach ‘8x or Worse’ Says Gimme Credit
Our client Vicki Bryan's analysis of Valeant featured in this Income Investing Blog
Vicki Bryan, senior high yield analyst at Gimme Credit, an independent corporate bond research firm, has been one of Valeant Pharmaceuticals International (VRX) toughest critics.
Rightly so, it seems. Shares in the beleaguered pharmaceutical firm were down 11% after it exceeded Wall Street estimates for the fourth quarter of 2016, but painted a potentially bleak picture for 2017. Bonds, too, were falling. An issue maturing in April, 2026 fell 32 cents to $81.56. It yields 9.4%.