Moody's rates Colgate Medical facility Ba2

Moody's Investors Service said it assigned a Ba2 rating to the $125 million senior secured credit facilities of Colgate Medical Ltd., a U.K. based holding company.

The senior credit facilities consist of a $110 million five-year term loan and $15 million five-year revolver. These facilities are guaranteed by Colgate Medical's ultimate parent, Orthofix International NV. The senior implied rating of OFIX is Ba2, and the rating outlook is stable.

Moody's said the credit facilities are being established to fund Orthofix's acquisition of BREG Inc., a private company that is a leading manufacturer and distributor of orthopedic bracing, soft goods and cold therapy products. This is the first time that Moody's has rated the debt of Orthofix, a designer, developer, manufacturer, marketer and distributor of products in the orthopedic marketplace.

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