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Moody's: Aspen Dental loans B2
Moody's Investors Service said it assigned a B2 rating to the amended $50 million senior secured revolving credit facility and affirmed the B2 rating of the amended $320 million senior secured term loan of Aspen Dental Management, Inc.
At the same time, Moody's affirmed Aspen's B2 corporate family and probability of default ratings.
The outlook is stable.
Moody's said the ratings reflect the company's limited absolute size relative to other single-B rated companies, based on revenue and earnings. The company's aggressive de novo growth strategy is expected to continue to constrain profitability margins and free cash flow.
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