(Reuters) - Bausch & Lomb's credit quality measures were already weak as a result of product recalls, S&P said in a statement. Though finances are expected to improve as the company rebuilds its brand name and expands sales in unaffected businesses, that will not offset an increase in debt because of the acquisition, S&P said.
"Even if the transaction is not consummated ... management's willingness to aggressively increase leverage to this extent is not commensurate with an investment-grade rating," S&P said.
Read more at Reuters.com Mergers News
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