S&P assigns BBB- to DaVita loans

S&P said it assigned a BBB- issue-level rating to DaVita Inc.'s new five-year $1.25 billion term loan A due in 2028 and five-year $1.5 billion revolving credit facility due in 2028. The 1 recovery rating indicates very high recovery (90%-100%; rounded estimate: revised to 90% from 95%) if DaVita defaults.

The ratings are the same as those on DaVita’s outstanding loans.

DaVita is expected to primarily use the proceeds to pay down its $1.75 billion term loan A due in August 2024 and the balance on its $1 billion revolving credit facility maturing in August 2024.

The outlook is negative.

© 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.