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.

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