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S&P affirms RadNet loan
Standard & Poor's said it affirmed its CCC+ issue-level rating on RadNet Management Inc.'s senior secured second-lien term loan following the company's $35 million add-on.
The agency said that the issue-level rating is two notches lower than the B corporate credit rating on RadNet, adding that the company has increased its outstanding $135 million second-lien term loan to $170 million.
The recovery rating on this debt remains unchanged at 6, S&P said, adding that the issue-level rating on the company's $305 million first-lien facilities, consisting of a $250 million term loan and a $55 million revolving credit facility, remains unchanged at B+ with a recovery rating of 2.
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