S&P rates Cano DIP loan B+

S&P said it rated Cano Health LLC’s $150 million debtor-in-possession term loan B+. The borrower is a unit of Cano Health Inc. Cano filed for protection under Chapter 11 on Feb. 4.

“Our B+ rating on Cano's DIP term loan reflects the credit risk borne by the DIP lenders. The rating is based on our view of the company's ability to meet its financial requirements during bankruptcy through our debtor credit profile (DCP) assessment,” S&P said in a press release.

The rating is a point-in-time rating and will not be reviewed or modified, 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.