Moody's confirms Inverness

Moody's Investors Service said it confirmed the B2 corporate family and probability-of-default ratings of Inverness Medical Innovations, Inc. as well as its B1 (LGD3, 34%) senior secured loan ratings and Caa1 (LGD5, 81%) second-lien loan rating.

The outlook is stable.

Ratings were placed on review since the January announcement of the Matria Healthcare, Inc. acquisition, which was completed in May for about $1.2 billion.

The B2 corporate family rating reflects the company's acquisitive growth strategy, ongoing integration risk and technological risk, the agency said.

Ratings benefit from a strong competitive position, Moody's said, as well as solid cash flow generation supported by a track record of technological innovation.

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