S&P rates Renal Advantage loans B

Standard & Poor's said it assigned a B corporate credit rating to Renal Advantage Holdings Inc., along with a B senior secured debt rating to the company's proposed $60 million revolving credit facility maturing in 2015 and $245 million term loan facility maturing in 2016 with a recovery rating of 3, indicating a 50% to 70% recovery in the event of default.

The outlook is stable.

The speculative-grade ratings reflect Renal Advantage's dependence on the treatment of a single disease, exposure to potential adverse changes in payor mix and reimbursement, relative size disadvantage compared to the largest companies in the dialysis sector and a shareholder-friendly financial policy, S&P said.

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