S&P bumps up Auna

S&P said it raised its global scale issuer credit and issue-level ratings on Auna SAA to B from CCC+ and removed them from CreditWatch with developing implications, where it had placed them on March 13.

Auna sold $455 million in senior secured notes, through a private placement, to refinance the bridge loans it used to partly fund the acquisitions it made in 2022. Both bridge loans were set to mature on April 20, and early October 2023, for $56 million and $350 million, respectively.

“As part of the $505 million financing agreement, we expect Auna to disburse another $50 million over the next few weeks to further refinance short-term debt and for general corporate purposes. We believe Auna has alleviated pressures on its liquidity by extending its debt maturity profile through a five-year bullet financing. The company's next large debt maturity is the $300 million senior unsecured notes due November 2025,” S&P said in a press release.

The outlook is stable.

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