Moody’s gives SpecialtyCare facilities B1, Caa1

Moody's Investors Service said it assigned a B2 corporate family rating and B2-PD probability of default rating to SCSG EA Acquisition Co., Inc., parent company of SpecialtyCare, Inc.

Moody's also assigned a B1 rating to the company's new senior secured first-lien credit facility and a Caa1 rating to the senior secured second-lien credit facility.

The outlook is stable.

“The B2 rating is constrained by SpecialtyCare's high financial leverage in the mid-6.0x range. The rating is also constrained by the company's modest absolute size and niche service line offering,” the agency said in a news release.

Moody’s said the stable outlook reflects the view that leverage will remain high but that the company's cash flow will be positive and liquidity will remain adequate.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.