S&P: MedQuest still on positive watch

Standard & Poor's said its B-/Watch positive ratings on MedQuest Inc. remain on CreditWatch with positive implications, where they were placed on Aug. 14, after its agreement to merge with Novant Health.

The agency said that the transaction, which closed Monday, triggers a change of control under the terms of the indentures with respect to MQ Associates' $136 million face value at maturity 12.25% senior discount notes and MedQuest's $180 million 11.875% senior subordinated notes.

If the debt remains outstanding, S&P said it will determine whether the credit has improved as a result of new ownership.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.