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Moody's may lower DJO and ReAble
Moody's Investors Service said it placed DJO, LLC and ReAble Therapeutics, Inc.'s ratings on review for downgrade following DJO's $1.6 million merger agreement with an affiliate of ReAble.
DJO has a Ba3 corporate family rating, B1 probability-of-default rating, Ba3 rating (LGD3, 33%) on its senior secured revolver due 2012 and term loan due 2013, and speculative grade liquidity rating of SGL-2.
ReAble has B2 corporate family and probability-of-default ratings, and speculative grade liquidity rating of SGL-2.
Encore Medical Finance LLC has a Ba3 rating (LGD2, 25%) on its senior secured revolver due 2012 and term loan B due 2013, and Caa1 rating (LGD5, 80%) on its 11¾% senior subordinated notes due 2014.
The reviews reflect the current lack of detailed financing information, the agency said.
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