S&P rates Diaverum loan B-

S&P said it assigned a B- and a recovery rating of 3 to Diaverum Holding Sarl’s senior secured term loan. Diaverum is also seeking to raise a €200 million add-on to its existing first-lien term loan to fund the amendment of its joint venture and associated ancillary agreements related to Saudi Arabia and the Middle East, resulting in a significant EBITDA uplift and a simplified operational structure.

S&P also assigned the company a B rating. The rating reflects the focus on a single disease area, end-stage renal disease, partly offset by geographic diversification and a strong track record of revenue growth.

The outlook is stable.

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