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Moody's: U.S. Renal loans B1, Caa1
Moody's Investors Service said it assigned B2 corporate family and probability of default ratings to U.S. Renal Care, Inc.
Concurrently, Moody's assigned a B1 rating to both the company's proposed $60 million senior secured revolving credit facility due 2017 and its $305 million senior secured first-lien term loan due 2019.
In addition, a Caa1 rating was assigned to a proposed $120 million senior secured second-lien term loan due 2019.
The outlook is stable.
On May 22, Leonard Green & Partners, LP agreed to acquire U.S. Renal Care. Proceeds from the proposed credit facilities, along with $186 million in common equity, will be used to fund the transaction and cover fees and expenses, the agency said.
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