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Bausch Health inches higher after small debt paydown

Bausch Health inches higher after small debt paydown
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Bausch Health Companies Inc. shares rose 1.2 per cent in pre-market trading after the company paid off $100 million (U.S.) of it s over $25.6 billion debt. $100 million “is not a meaningful paydown given their capital structure, but it does reinforce the company’s focus on deleveraging,” Bloomberg Intelligence analyst Mike Holland writes in an email.

Such payments are “a positive for credit investors usually to the detriment of equity holders in the short term,” Holland says.

BHC 8 buys, 6 holds, 4 sells; average price target $29, implying 20% upside, according to data compiled by Bloomberg
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