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S&P: MedCath unchanged
Standard & Poor's said its rating and outlook on MedCath Holdings Corp. (B+/stable) would not be affected by the company's filing of a 6 million share equity offering.
Of the 6 million total shares in the offering, 1.7 million are new shares offered by the company, 4.3 million will be offered by the company's two largest shareholders, MedCath 1998 LLC and Welsh, Carson, Anderson & Stowe VII, LP, the agency noted.
MedCath will use the proceeds of the new shares to repay debt, the agency added.
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