Moody's: Sun Healthcare Group unaffected

Moody's Investors Service said Sun Healthcare Group, Inc.'s announcement that it has signed a definitive agreement to be acquired by Genesis HealthCare has no immediate implications for the company's credit ratings.

The agency said it expects that Sun's credit facilities, which contain change of control provisions, will be repaid upon the close of the proposed transaction.

Therefore, Moody's said it anticipates that all of Sun's ratings will be withdrawn at the close of the transaction.

© 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.