Moody's rates American Dental B2, loan B1

Moody's Investors Service said it assigned B2 corporate family and probability of default ratings to American Dental Partners, Inc.

The agency also said it assigned a B1 rating to the company's proposed senior secured credit facilities, including a $205 million term loan and a $36 million revolver.

The outlook is stable.

The proceeds will be used, along with an additional equity contribution, to finance the acquisition of American Dental by JLL Partners, Inc. for about $398 million, Moody's said.

The ratings reflect the company's small absolute size relative to other single-B rated companies based on both revenue and earnings, the agency said, and the significant leverage that is being incurred as a result of the company's leveraged buyout.

However, the company's credit profile benefits from its strong market presence within the rapidly growing dental practice management industry, Moody's said.

© 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.