Research Update: MultiPlan Inc.'s $315 Million Senior Secured Term Loan Rated 'B+'; Other Ratings Affirmed; Outlook Remains Stable Mar 10
- ID: 1869321
- March 2010
- Standard & Poors
U.S. health care cost-management provider MultiPlan Inc. is planning to issue a $315 million incremental term loan (due in April 2013) under its existing senior secured credit facilities. MultiPlan will use proceeds from the incremental term loan primarily for financing its pending acquisition of Viant Holdings Inc. (B/Watch Pos/--). The company has recently received regulatory approval for this acquisition. We are assigning our 'B+' issue rating and '3' recovery rating on MultiPlan's proposed $315 million incremental term loan. We are affirming all of our ratings on MultiPlan, including the 'B+' counterparty credit rating. The outlook remains stable. On March 5, 2010, Standard & Poor's Ratings Services assigned its 'B+' issue-level rating on MultiPlan Inc.'s planned $315 million senior secured incremental...
Companies mentioned in this report are:
- MultiPlan Inc.
- Viant Holdings Inc. (dba Viant)
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases. SHOW LESS READ MORE >