Moody's puts DJO on upgrade review

Moody's Investors Service said it placed the ratings of DJO Finance LLC on review for upgrade, including its Caa1 corporate family rating, Caa1-PD probability of default rating, B1 senior secured credit facility, Caa2 senior secured second-lien notes and the Caa3 senior secured third-lien notes.

DJO's SGL-2 speculative grade liquidity rating is unchanged.

These rating actions follow news that DJO entered into a definitive agreement to be acquired by Colfax Corp. for about $3.15 billion.

The review for upgrade considers the positive credit impact for DJO after the acquisition Moody's said.

It is currently contemplated that all DJO debt will be repaid at closing of the transaction, which is expected to occur in the first quarter of 2019, 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.