New York, February 23, 2015 -- Moody's Investors Service placed the ratings of Salix Pharmaceuticals, Ltd ("Salix") under review for upgrade, including the B1 Corporate Family Rating, B1-PD Probability of Default Rating, the Ba1 senior secured ratings, and the B2 senior unsecured rating. This rating action follows the announcement that Valeant Pharmaceuticals International, Inc ("Valeant") has made an offer to acquire Salix for approximately $14.5 billion including debt. The Speculative Grade Liquidity Rating is affirmed at SGL-3.
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