Moody’s gives MyEyeDr loan B3

Moody’s Investors Service said it changed MED ParentCo., LP’s (MyEyeDr) outlook to stable from negative and assigned a B3 rating to the proposed $80 million incremental first-lien term loan.

Concurrently, Moody’s affirmed the company’s other ratings, including the Caa1 corporate family rating, Caa1-PD probability of default rating, B3 first-lien credit facilities ratings and Caa3 second-lien credit facility rating.

Proceeds along with an $80 million cash infusion from existing investors in the form of preferred equity will be used to bolster MyEyeDr’s liquidity position.

“The change in outlook to stable from negative reflects the improvement in MyEyeDr’s liquidity following the transaction,” Moody’s said in a press release.

© 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.