Research Update: MultiPlan Inc. 'B+' Rating Removed From CreditWatch Negative And Affirmed; Outlook Negative Sep 06
- ID: 1870002
- September 2006
- Standard & Poors
On Sept. 21, 2006, Standard & Poor's Ratings Services affirmed its 'B+' counterparty credit rating on MultiPlan Inc. and removed it from CreditWatch with negative implications, where it was placed on Aug. 31, 2006. The outlook is negative. At the same time, Standard & Poor's assigned its 'B+' rating to MultiPlan's proposed 6.5-year, $360 million senior secured bank loan due 2013 (Term Loan C). This is the same level as the counterparty credit rating and existing term loan. The new term loan is being issued via an amendment to existing credit facilities established in April 2006. The proceeds will be used to finance the acquisition of Preferred Healthcare Systems Inc. (PHCS). The ratings had been placed on CreditWatch following the...
Companies mentioned in this report are: MultiPlan Inc.
Action: Removed From CreditWatch
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.