Valeant's $31 Billion of Debt May Be Cut From Ba3 by Moody's

Valeant Pharmaceuticals International Inc. may have its credit rating cut by Moody’s Investors Service amid concern the company will struggle to reduce debt because its operating performance may be weaker than forecast.

The Quebec-based drugmaker was scheduled to conduct a fourth-quarter preliminary earnings call Monday but withdrew its financial forecast and said it would delay releasing the results after the company’s chief executive officer returned to his post Sunday. Separately, Valeant reported on Monday that it’s under investigation by the U.S. Securities and Exchange Commission. The company’s debt plummeted.