Moody's affirms Harlan Labs

Moody's Investors Service said it affirmed the ratings of Harlan Laboratories, Inc., including the B2 corporate family rating and the B2 probability of default rating.

The outlook remains stable.

The ratings are constrained by Harlan's relatively weak competitive position in its clinical services business and Moody's expectation that over time Harlan will likely make acquisitions in order to augment this business.

On the other hand, the ratings are supported by Harlan's strong competitive position in the research models business, and its very favorable customer concentration profile.

Ratings affirmed include Harlan Laboratories' $15 million first-lien U.S. revolving credit facility due 2013 at B2, LGD-3, 45%; the $330 million first-lien term loan due 2014, rated B2, LGD-3, 45%; and Harlan Netherlands BV's $15 million first-lien euro revolving credit facility due 2013, rated B2, LGD-3, 45%.

© 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.