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Prospect News home > News index > List of issuers M > Headlines for Mozart Debt Merger Sub Inc. > News item |
S&P rates Medline notes B+, B-
S&P said it assigned B+ issue-level and 3 recovery ratings to Mozart Debt Merger Sub Inc.'s (Medline Industries) planned $3.77 billion of secured notes offering. The 3 recovery rating indicates an expectation of meaningful (50%-70%; rounded estimate: 55%) recovery in default.
The agency also assigned B- issue-level and 6 recovery ratings to the proposed $4 billion senior unsecured notes offering. The 6 recovery rating indicates an expectation of negligible (0%-10%; rounded estimate: 0%) recovery in default.
The funds will be used to partially finance the leveraged buyout of Medline Industries by the Blackstone Group, the Carlyle Group, and Hellman & Friedman LLC.
Medline’s issuer rating is B+
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