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Research Update: Univita Health Inc. Assigned Preliminary 'B' Corporate Credit Rating; Outlook Is Stable Product Image

Research Update: Univita Health Inc. Assigned Preliminary 'B' Corporate Credit Rating; Outlook Is Stable

  • ID: 1791042
  • May 2011
  • Standard & Poors

Abstract
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 READ MORE >

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