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S&P: Healogics loans B, CCC+
Standard & Poor's said it affirmed the B corporate credit rating on Healogics Inc.
The agency also said it assigned a B rating to Healogics' proposed $30 million first-lien revolving credit agreement and $290 million first-lien term loan with a recovery rating of 3, indicating 50% to 70% expected default recovery.
S&P also assigned a CCC+ rating on its proposed $110 million second-lien term loan with a recovery rating of 6, indicating 0 to 10% expected recovery in a default.
The outlook is stable.
The ratings reflect its highly leveraged financial risk profile, the agency said.
The company's weak business risk profile recognizes its good market position with a narrow operating focus, S&P said.
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