S&P lifts Boston Luxembourg, loans

Standard & Poor's said it raised its long-term corporate credit rating on Boston Luxembourg II Sarl, the parent company of BSN Medical, to B+ from B.

The outlook is stable.

At the same time, the agency raised its issue rating on the senior secured bank facilities issued by LuxDebtCo due in 2019 to BB- from B+. The recovery rating on this instrument remains unchanged at 2, indicating an expectation of substantial (70%-90%) recovery in the event of a payment default.

The ratings were removed from CreditWatch, where they were placed with positive implications on Nov. 26.

S&P said it bases the upgrades primarily on its reassessment of the importance of volatility of earnings for Boston Luxembourg under our new corporate criteria. The agency also takes into account the relative stability of the company's cash flows in the health care equipment sector.

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