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Published on 9/28/2006 in the Prospect News Bank Loan Daily, Prospect News Distressed Debt Daily and Prospect News High Yield Daily.

Medical devices

Accellent Inc., B2; probability-of-default rating: B2; revolver and term loan, upgraded to Ba3 from B2, LGD2, 29%; notes, Caa1, LGD5, 83%.

Advanced Medical Optics, Inc., B1; probability-of-default rating: B1; revolver, upgraded to Ba1 from B1, LGD 1, 7%; convertible notes, upgraded to B2 from B3, LGD 4, 66%.

AGA Medical Corp., B2; probability-of-default rating: B2; revolver and term loan, upgraded to B1 from B2, LGD3, 42%.

American Medical Systems, Inc., B1; probability-of-default rating: B1; revolver and term loan, upgraded to Ba2 from Ba3, LGD2, 22%. American Medical Systems Holdings, Inc., convertible notes, B3, LGD5, 78%.

Angiotech Pharmaceuticals Inc., Ba3; probability-of-default rating: Ba3; revolver and term loan, upgraded to Ba1 from Ba3, LGD2, 27%; notes, B2, LGD5, 82%.

Arizant Inc., B2; probability-of-default rating: B3; revolver and term loan, B2, LGD3, 35%.

ConMed Corp., Ba3; probability-of-default rating: Ba3; revolver and term loan, Ba2, LGD2, 30%; convertible notes, B2, LGD5, 85%.

Dade Behring, Inc., Ba1; probability-of-default rating: Ba1; revolver, Ba1, LGD4, 52%.

DJO, LLC, Ba3; probability-of-default rating: B1; revolver and term loan, Ba3, LGD3, 33%.

Encore Medical IHC, B2; probability-of-default rating: B2; revolver and term loan, upgraded to Ba3 from B1, LGD2, 25%; notes, Caa1, LGD5, 80%.

Kinetic Concepts, Inc., Ba2; probability-of-default rating: Ba2; revolver and term loan, upgraded to Ba1 from Ba2, LGD3, 36%; notes, B1, LGD5, 86%.

Millipore Corp., Ba1; probability-of-default rating: Ba1; notes, Ba2, LGD5, 72%. Millipore Corp., Millipore Ireland and Millipore SAS, revolver, upgraded to Baa2 from Baa3, LGD2, 13%.

Orthofix International, NV, Ba3; probability-of-default rating: B1. Orthofix Holdings, Inc., revolver and term loan, Ba3, LGD3, 34%.

Sterigenics International, Inc., B2; probability-of-default rating: B3; revolver and term loan, B2, LGD3, 32%.


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