S&P gives Mallinckrodt DIP loan BBB-

S&P said it gave a BBB- point-in-time rating to the $250 million debtor-in-possession term loan issued by Mallinckrodt International Finance SA, a subsidiary of Mallinckrodt plc.

“Our BBB- rating on Mallinckrodt's DIP term loan reflects the credit risk borne by the DIP lenders. The rating is based on our view of the company's ability to meet its financial requirements during bankruptcy through our debtor credit profile (DCP) assessment,” the agency said in a statement.

S&P said it will not review, modify, or provide ongoing surveillance on the loan.

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