Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Heartland Dental, LLC > News item |
S&P rates Heartland facilities B-, CCC
S&P said it affirmed the B- corporate credit rating on Heartland Dental LLC and revised the outlook to stable from negative.
The agency also said it assigned a B- rating to the proposed $100 million revolving credit facility maturing 2022 and $750 million first-lien term loan maturing 2023.
The recovery rating is 3, indicating 50% to 70% expected default recovery.
S&P also said it assigned a CCC rating to the proposed $225 million second-lien term loan due in 2024. The recovery rating is 6, indicating 0 to 10% expected default recovery.
The agency said it will withdraw the ratings on the previous capital structure at the close of the transaction.
The outlook revision reflects an expectation that Heartland Dental will successfully refinance its capital structure, materially extending its maturity profile and providing liquidity to support its operations and growth strategy, S&P 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.