New York, January 30, 2015 -- Moody's Investors Service stated that the announcement by Salix Pharmaceuticals, Ltd ("Salix") that it will restate its prior financial results is credit negative, but there is no effect on Moody's ratings or the ratings outlook for Salix. Moody's ratings of Salix include B1 Corporate Family Rating, B1-PD Probability of Default, Ba1 senior secured, B2 senior unsecured and SGL-3 Speculative Grade Liquidity. The rating outlook is negative. The announcement of a restatement follows the outcome of an Audit Committee review of Salix's disclosures around inventory levels.

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