S&P: ReAble unchanged

Standard & Poor's said its ratings on ReAble Therapeutics Inc. (B/stable) are not affected by the company's announcement that it intends to purchase the debt and equity of DJO Inc. for $1.6 billion.

The transaction is expected to close in the fourth quarter of 2007, the agency noted.

According to S&P, ReAble could well maintain its current rating, given the improved product diversity and-scale the DJO acquisition would provide, Blackstone's intention to supply equity financing, ReAble's already low corporate credit rating and the probability that lenders will not allow ReAble to increase leverage significantly beyond the current level.

© 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.