Moody's might lower Medpace, loans

Moody's Investors Service said it placed Medpace, Inc.'s including the B2 corporate family rating, B3-PD probability of default rating and the B2 ratings on its senior secured revolving credit facility and senior secured term loan under review for downgrade.

The review follows the announcement that the company is being sold to Cinven Ltd., a European private equity firm. Medpace has been majority owned by CCMP Capital Advisors, LLC since 2011. The agency anticipates the existing credit facility will be repaid and terminated upon the closing of the acquisition by Cinven.

Moody's said the focus of the review will be the resulting financial leverage and capital structure following the sale of the company to Cinven, as well as Medpace's operating position and broader trends in the contract research organization industry.

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