S&P: Heartland Dental unchanged after add-on

Standard & Poor’s said the B rating with 3 recovery rating on Heartland Dental Care LLC’s first-lien term loan due 2018 is unchanged following its $75 million add-on to the loan.

The proceeds will be used to repay its revolver and add cash to the balance sheet.

The B corporate credit rating and negative outlook on Heartland is unchanged.

The ratings reflect the company’s participation in the highly fragmented and increasingly competitive dental services industry, which has low barriers to entry, S&P said, and a belief that Heartland’s growth goals are fairly aggressive.

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