S&P rates Quintiles loan BB-

Standard & Poor's said it assigned Quintiles Transnational Corp.'s proposed $2,061,000,000 term loan B-3 a BB- issue-level rating (the same as the corporate credit rating on the company).

The recovery rating is 4, indicating an expectation for average (30%-50%) recovery in the event of default.

The BB- corporate credit rating on the company is unaffected and the outlook is stable.

The company intends to use proceeds from the new term loan to refinance its existing B-1 and B-2 term loans, which each carry a higher coupon. S&P also rates the existing term loans BB- with a 4 recovery rating.

The ratings on Quintiles Transnational reflect the company's "aggressive" financial risk profile and "satisfactory" business risk profile.

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