S&P rates Midwest Veterinary loan B-

S&P said it rated Midwest Veterinary Partners LLC’s new $75 million delayed-draw first-lien term loan B- with a 3 recovery rating (50%-70%, rounded estimate: 50%).

The company is obtaining a new fungible $50 million first-lien term loan add-on and the $75 million loan.

The agency also affirmed MVP’s B- issuer rating and the B- issue-level and 3 recovery ratings on its first-lien debt.

The proceeds are expected to be used to fund acquisitions.

The outlook is stable.

© 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.