Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Mediq > News item |
Moody’s rates Mediq, loans B2
Moody’s Investors Service said it assigned a new B2 corporate family rating and a new B2-PD probability of default rating to Magellan Dutch BidCo BV (Mediq), the new top entity of Mediq’s restricted group. Concurrently, Moody’s gave a B2 rating to the planned €500 million senior secured term loan B and a new B2 rating to the proposed €100 million senior secured revolving credit facility.
Moody’s forecasts the Moody’s adjusted debt / EBITDA to remain within the 5.5x-6x range for the next 12-18 months, at the high end of the 5x-6x range set for the B2. “As a result, the ratings are weakly positioned,” the agency said in a press release..
The loan proceeds will be used to refinance the capital structure.
Moody’s assigned a stable outlook. The outlook assumes the operating and competitive environment will remain stable that Mediq’s metrics will stay in the triggers set for the B2 rating, the agency said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.