, Columnist
Valeant Rearranges Deck Chairs
Refinancing merely delays the inevitable debt reckoning.
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Delaying the inevitable always feels good in the moment. But it's a short-lived high.
Valeant Pharmaceuticals International Inc. late Tuesday announced it had completed a multi-billion-dollar orchestra of can-kicking, with a series of refinancing transactions to ease its near-term debt burden.