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Medpace Inc. Assigned Preliminary 'B+' Ratings; Outlook Stable May 11 Product Image

Medpace Inc. Assigned Preliminary 'B+' Ratings; Outlook Stable May 11

  • ID: 1802784
  • May 2011
  • Standard & Poors

Abstract
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

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.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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