Moody’s assigns Omnia, loans B2

Moody’s Investors Service said it assigned B2 ratings to Omnia Partners, LLC's $1.625 billion senior secured first-lien term loan due in 2030, $155 million senior secured first-lien delayed-draw term loan due in 2030 and $250 million senior secured first-lien revolving credit facility maturing in 2028.

The agency also assigned B2 ratings and a stable outlook to Omnia Partners and affirmed its B2 ratings for Omnia Partners, Inc. Its outlook remains stable.

Omnia plans to use the loans to buy Premier, Inc.'s non-healthcare GPO operations for about $800 million, refinance its debt and extend its debt maturity profile.

"Despite the leveraging acquisition, the affirmation reflects our expectation that Omnia will deleverage to below 5.5x (debt/EBITDA) by 2024 as a result of strong EBITDA growth," said Mikhil Mahore, a Moody's analyst, in a press release.

© 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.