Moody's may upgrade Highland

Moody's Investors Service said it placed all of the ratings on Highland Acquisition Holdings, LLC on review for upgrade.

Highland is the parent company of HealthSun.

The upgrade review follows news that Anthem, Inc. will acquire the company, Moody's said.

Moody's said it expects the transaction to close by the end of 2017 and is subject to state and federal regulatory approvals.

The agency said it anticipates withdrawing all of the ratings on Highland once the company's debts are repaid at transaction close.

The ratings on review include Highland's corporate family rating of B2, probability of default rating of B2-PD, B2 (LGD 3) rating on its senior secured first-lien revolving credit facility due 2021 and B2 (LGD 3) rating on its senior secured first-lien term loan due 2023.

The outlook is on review.

Should the acquisition be consummated, Highland will become part of an enterprise with a stronger overall credit profile, Moody's explained.

The review will focus on Anthem's treatment of Highland's debt following the close of the acquisition, the agency said.

© 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.