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Bausch Health Americas, Inc. -- Moody's assigns Ba2 to Bausch's secured notes and B3 to unsecured notes; stable outlook

Moody's Investors Service ("Moody's") assigned a Ba2 rating to the new senior secured note offering of Bausch Health Companies Inc. ("Bausch Health"), and a B3 rating to the new senior unsecured note offering of Bausch Health Americas, Inc. (formerly known as Valeant Pharmaceuticals International), guaranteed by Bausch Health. There are no changes to Bausch Health's other ratings including the B2 Corporate Family Rating, the B2-PD Probability of Default Rating, the Ba2 senior secured rating, B3 senior unsecured rating and SGL-1 Speculative Grade Liquidity Rating. The transaction is credit positive because it will extend Bausch Health's debt maturities.