Jun
08
Valeant Bonds May Be a Buy After Avoiding Default, JPMorgan Says
By-
‘A lot of free cash flow’ eases debt burden: Bob Michele
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Drugmaker filed delayed quarterly report after near-default
Valeant Pharmaceuticals International Inc.’s bonds could be a bright spot for investors despite the drugmaker’s plunging equity, according to Bob Michele at JPMorgan Chase & Co.
“They’re doing all the things that we like to see as a debt investor,” Michele, JPMorgan Asset Management’s chief investment officer and head of the global fixed-income, currency and commodities group, said in a television interview on Bloomberg <GO> Wednesday. “They have a lot of free cash flow.”…
Valeant Bonds May Be a Buy After Avoiding Default, JPMorgan Says
