- Language: English
- Published: February 2013
Kindred Healthcare Inc. Assigned 'B+' Corporate Credit And Issue-Level Ratings, Recovery Rating '3'; Outlook Stable Jun 11
- ID: 1825549
- June 2011
- Standard & Poors
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
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Research type: News
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