Moody’s gives RadNet loans B1

Moody’s Investors Service said it gave B1 ratings to RadNet Management, Inc.’s proposed senior secured first-lien revolver and term loan. There is no change to RadNet’s B2 corporate family rating, B2-PD probability of default rating, and SGL-2 speculative grade liquidity rating.

The agency affirmed RadNet’s B1 senior secured bank rating on March 24.

The proceeds from the proposed $675 million term loan will be used to pay the existing term loan’s outstanding amount of about $611 million, pay transaction fees and fund some cash for potential M&A/operating purposes. The planned $195 million revolving credit facility, expected to be undrawn at the transaction’s close, will replace the revolver.

The outlook is stable.

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