Research Update: Amber Holding Inc. Assigned Prelim 'B' Rating, Stable Outlook; SumTotal Systems Inc. Debt Assigned Prelim Ratings Oct 12
- Language: English
- Published: October 2012
Standard & Poor's Ratings Services assigned a preliminary 'B' corporate credit rating to Scottsdale, Az.-based insurance administration services and integrated health care company Univita Health Inc. At the same time, we assigned a preliminary 'B' issue-level and preliminary '3' recovery rating to the company's proposed $220 million senior secured credit facility, which consists of a $20 million revolving credit facility and $200 million term loan B. Proceeds from the proposed credit facility will be used to refinance existing first-lien and mezzanine debt and to pay transaction-related expenses. The stable rating outlook reflects our expectation for modest revenue growth and free cash flow generation, and the ongoing strategic influence of the financial sponsor. On May 18, 2011, Standard & Poor's Ratings...
Companies mentioned in this report are: Univita Health Inc.
Action: New Rating
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 users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Univita Health Inc.