Medpace Inc. Assigned Preliminary 'B+' Ratings; Outlook Stable May 11
- ID: 1802784
- May 2011
- Standard & Poors
Private equity firm CCMP Capital is acquiring 80.1% of Cincinnati-based contract research organization Medpace Inc. Medpace is entering into a $335 million senior secured credit facility consisting of a $50 million revolver due 2016 and a $285 million term loan due 2017. Medpace will be initially leveraged at 4.6x. Standard & Poor's is assigning a preliminary 'B+' corporate credit rating to Medpace and a preliminary 'B+' senior secured debt and a preliminary '4' recovery rating to the company's credit facility. The stable outlook reflects our belief that Medpace will benefit from the improving trends in the contract research industry. TORONTO (Standard & Poor's) May 23, 2011--Standard & Poor's Ratings Services said today it assigned its preliminary 'B+' corporate credit rating...
Companies mentioned in this report are: Medpace Inc.
Action: New Rating
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Research type: News
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