Vizient Inc.#s New Revolver And Term Loan B Rated #B+# (Recovery Rating: #2#)

Stocks and Financial Services Press Releases Friday April 21, 2017 09:25
NEW YORK--21 Apr--S&P Global Ratings

NEW YORK (S&P Global Ratings) April 20, 2017--S&P Global Ratings today assigned its 'B+' issue-level rating to Vizient Inc.'s new revolver and term loan B. The recovery rating on this debt is '2', indicating our expectation for substantial (70%-90%; rounded estimate: 75%) recovery in the event of a payment default. The transaction does not affect leverage. The company will use the proceeds to repay its existing term loan B.

The 'B' corporate credit rating reflects Vizient's high leverage as a result of its acquisition last year of MedAssets' Spend and Clinical Management (SCM) segment and its analytics and consulting arm, Sg2. It also reflects thecompany's leading, but specialized focus as a group purchasing organization (GPO), or a negotiator of supply contracts to hospitals and other health care providers.

For the corporate credit rating rationale, see the research update on Vizient   published on Sept. 8, 2016.

Latest Press Release

Indonesia#s Proposed Senior Unsecured Yen-Denominated Bonds Assigned #BBB-# Long-Term Foreign Currency Rating

SINGAPORE (S&P Global Ratings) May 24, 2018--S&P Global Ratings today assigned its 'BBB-' long-term foreign currency rating to the following Japanese yen-denominated fixed-rate senior unsecured bonds proposed by Indonesia...

Ratings Assigned To Cash Flow CLO Transaction Avoca CLO XVIII

LONDON (S&P Global Ratings) May 24, 2018--S&P Global Ratings today assigned its credit ratings to Avoca CLO XVIII DAC's class A, B-1, B-2, C, D, E, and F notes. At closing, Avoca also issued unrated subordinated notes (see list below). Avoca...

Credit Union Payment Center Outlook Revised To Positive On Resilient Results And Zero-Debt #BB/B# Affirmed

MOSCOW (S&P Global Ratings) May 24, 2018--S&P Global Ratings today revised its outlook to positive from stable on Russia-based Credit Union Payment Center (RNKO), a core subsidiary and payment settlement center for Center of Financial...

Longstone Finance Class A And B Notes Upgraded Following Lloyds Bank Upgrade

LONDON (S&P Global Ratings) May 24, 2018--S&P Global Ratings today raised its credit ratings on Longstone Finance PLC's class A and B notes. We took no action on the Class C notes (see list below). Today's upgrades follow our May 8, 2018, upgrade...

RESIMAC Triomphe Trust - RESIMAC Premier Series 2018-1 Prime RMBS Assigned Ratings

MELBOURNE (S&P Global Ratings) May 24, 2018--S&P Global Ratings today assigned its ratings to eight classes of prime residential mortgage-backed securities (RMBS) issued by Perpetual Trustee Co. Ltd. as trustee for RESIMAC Triomphe Trust -...

Related Topics