S&P assigns Iqvia notes BB

S&P said it assigned its BB rating and 5 recovery rating to Iqvia Inc.’s planned senior unsecured notes due 2026 and 2029. The 5 recovery rating indicates an expectation for modest (10%-30%; rounded estimate: 10%) recovery in default.

Proceeds will be used to redeem its 3¼% senior unsecured notes due 2025 and to pay fees and expenses. The agency said it considers the transaction leverage neutral.

The BB+ long-term issuer credit rating and stable outlook on its parent Iqvia Holdings Inc. remain unchanged, S&P said.

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