Moody's rates Pediatric loan B2

Moody's Investors Service said it assigned a B2 rating to Pediatric Associates Holding Co., LLC's planned $125 million incremental first-lien term loan.

All other ratings, including the B2 corporate family rating, B2-PD probability of default rating and B2 ratings on the outstanding first-lien senior secured credit facilities, are unchanged.

The proceeds will be used to add cash to the balance sheet that will be used to fund future acquisitions and investments in new facilities. The incremental financing will increase leverage by a quarter of a turn to roughly 3.8 times (pro forma for the transaction for FYE 2022).

Moody’s said it also believes that Pediatric Associates will continue to use debt to fund growth.

The outlook is stable.

© 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.