Moody's rates ConMed converts B2

Moody's Investors Service said it assigned a rating of B2 for ConMed Corp.'s $150 million senior subordinated convertible notes due 2024. Moody's also affirmed ConMed's existing ratings. The outlook is stable.

Moody's affirmed ConMed's Ba3 rated $240 million guaranteed senior secured credit facility and senior implied rating and B1 senior unsecured issuer rating.

Moody's said the ratings reflect steady and consistent internal revenue growth, increasing operating cash flow and a stable level of capital expenditures required to support the company's business plan.

© 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.