Moody's rates Accredo loan Ba2

Moody's Investors Service said it assigned a rating of Ba2 to Accredo Health Inc.'s $550 million of senior secured bank credit facilities comprised of a $175 million revolver due 2009 and a $375 million term loan due 2011. In addition, Moody's affirmed the existing senior implied rating of Ba2 and senior unsecured issuer rating of Ba3.

The outlook was revised to stable from positive.

Moody's said the rating action follows the announcement by the company that the new credit facilities, along with cash on the balance sheet, will be used to fund the purchase price of potential future acquisitions, including the previously announced acquisition of Hemophilia Resources of America, and to refinance the company's existing debt.

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