S&P alters Versant Health view to stable

S&P said it revised its outlook on Versant Health Holdco Inc. to stable from negative and affirmed its B long-term issuer credit rating.

The agency also affirmed all issue ratings, including the B rating on the company’s first-lien credit facility, consisting of a $75 million revolver due 2022 and $800 million first-lien term loan due 2024. The recovery rating is 3, indicating an expectation for meaningful (60%) recovery in the event of default.

Also, S&P affirmed the CCC+ issue-level and 6 recovery ratings on Versant’s $210 million second-lien term loan due 2025. The 6 recovery rating indicates an expectation for negligible (0%) recovery in the event of default.

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