| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers W > Headlines for WP CityMD Bidco LLC > News item |
S&P rates WP CityMD Bidco loan B-
S&P said it assigned its B- issue-level rating and 3 recovery rating to WP CityMD Bidco LLC’s proposed $891 million 5.5-year first-lien term loan due August 2026. The 3 recovery rating, the same as the recovery rating on the CityMD’s senior secured debt, indicates an expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in default.
The company intends to use the proceeds to refinance its 4.5% first-lien term loan due 2026. CityMD also wants to increase its revolving credit facility’s commitment to $200 million from $150 million.
All of S&P’s other ratings on CityMD, including the B- issuer credit rating, remain unchanged, 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.