S&P gives Elder Health loan B

Standard & Poor's said it assigned its single B counterparty credit rating on Elder Health Inc.

The outlook is stable.

At the same time, S&P said it assigned its single B bank loan rating to Elder Health's proposed $135 million senior secured bank facilities, consisting of a $125 million term loan due 2013 and a $10 million revolving credit facility due 2012.

The facilities are rated the same as the corporate credit rating on Elder Health, the agency said, noting that the ratings reflect Elder Health's concentrated geographic and product profile, high level of intangibles relative to equity and relatively high financial leverage based upon debt to capitalization.

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