Moody's affirms InterDent Services

Moody's Investors Service said it affirmed InterDent Service Corp.'s corporate family and probability-of-default ratings at B3 and the company's $80 million 10¾% senior secured notes due 2011 at B3 (LGD3, 46%).

The outlook is stable

The agency said the B3 corporate family rating primarily reflects the company's high financial leverage with minimal expected debt reduction over the intermediate period, minimal free cash flow-to-debt ratio and risks associated with its corporate structure and strategy.

The stable outlook reflects Moody's expectation that the company will continue to control operating expenses, leverage fixed costs and grow revenues and EBITDA by opening new offices and increasing patient volume at existing centers through branding, marketing and advertising initiatives.

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