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Spain-Based Health Care Group Grifols Assigned Preliminary 'BB-' Rating; Outlook Positive Jul 10 Product Image

Spain-Based Health Care Group Grifols Assigned Preliminary 'BB-' Rating; Outlook Positive Jul 10

  • Published: July 2010
  • Standard & Poors

Abstract
Spain-based healthcare group Grifols SA is set to raise $4.5 billion in bank facilities (including a $300 million revolving credit facility) to finance its recently proposed acquisition of U.S.-based biopharmaceuticals company Talecris Biotherapeutics Inc. We are assigning a preliminary long-term corporate credit rating of 'BB-' to Grifols. We are also assigning a preliminary issue rating of 'BB' (recovery rating of '2') to the group's proposed senior secured bank facility, and a preliminary issue rating of 'B' (recovery rating of '6') to the group's proposed unsecured bridge facility. The positive outlook reflects our view of Grifols' sound position in a consolidated and growing plasma fractionation market. LONDON (Standard & Poor's) July 20, 2010--Standard Ratings Services said today that it assigned a...

Companies mentioned in this report are:
- Grifols S.A.

Action: New Rating
Action: Outlook: Positive

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets READ MORE >

- Grifols S.A.

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