Moody’s trims Viant Medical

Moody’s Investors Service said it downgraded Viant Medical Holdings, Inc.’s corporate family rating to Caa1 from B3 and its probability of default rating to Caa1-PD from B3-PD.

Moody’s also downgraded Viant’s senior secured first-lien credit facility ratings to B3 from B2 and the secured second-lien term loan rating to Caa3 from Caa2.

“The downgrade of the ratings reflects Viant’s weakened liquidity and increased financial leverage. Viant has had negative free cash flow, primarily due to acquisition financing and integration costs related to Advanced Surgical and Orthopedic (AS&O) business as well as increased working capital as the company moved off transition service agreements with Integer Holdings Corporation,” said the agency in a press release.

The outlook is stable.

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