S&P keeps Symbion on watch

Standard & Poor's said it maintained its BBB- ratings on Symbion Health Ltd. and Symbion's associated bank loans remain on CreditWatch with negative implications, where they were first placed on May 1.

The CreditWatch update comes after Symbion shareholders rejected a takeover offer by Healthscope Ltd. (not rated) at a meeting, the agency said, noting that the shareholder vote was 73.9% in favor of the takeover, however, the scheme of arrangement required a 75% acceptance.

Affected ratings include Symbion's corporate credit rating foreign currency at BBB-, senior unsecured at BBB- and corporate credit rating local currency at BBB-.

© 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.