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Kindred Healthcare Inc. Assigned 'B+' Corporate Credit And Issue-Level Ratings, Recovery Rating '3'; Outlook Stable Jun 11 Product Image

Kindred Healthcare Inc. Assigned 'B+' Corporate Credit And Issue-Level Ratings, Recovery Rating '3'; Outlook Stable Jun 11

  • Published: June 2011
  • Standard & Poors

Abstract
Louisville, Ky.-based post-acute care provider Kindred Healthcare Inc. issued a $650 million Asset-Backed revolving credit facility, a $700 million secured term loan B, and $550 million of unsecured notes. The company used the proceeds from these issues to finance its acquisition of RehabCare Group Inc. and pay transaction fees. We are assigning our 'B+' corporate credit rating, 'B+' issue-level rating, and recovery rating of '3' to the company's senior secured term loan B. We are also assigning our 'B-' issue-level rating, and recovery rating of '6' to the company's senior unsecured notes. Our stable rating outlook reflects our view that the company will continue to benefit from low-single-digit organic growth and will reap synergies by eliminating most of RehabCare's corporate...

Companies mentioned in this report are:
- Kindred Healthcare 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 READ MORE >

- Kindred Healthcare Inc.

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