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S&P: Aspen Dental unaffected
Standard & Poor's said its B rating and stable outlook on Aspen Dental Management Inc. are not affected by Aspen's proposed $127.4 million debt-financed dividend.
According to S&P, Aspen plans to increase the size of its existing term loan to fund the dividend.
Although S&P said the transactions would boost Aspen's already-high financial leverage, the agency believes EBITDA will grow at a low-double-digit annual rate over the next few years, helping Aspen to service its heavy debt burden.
The agency said it expects Aspen's liquidity to remain "adequate" after the dividend payment.
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