U.S.-based National Healing Corp., a provider of wound care services, acquired Wound Care Holdings LLC on Nov. 30, 2011. We are assigning our 'B' corporate credit rating to National Healing Corp. (NH). We are also assigning our 'B+' credit rating and '2' recovery rating to the company's $30 million first-lien revolving credit facility and $250 million first-lien term loan; we are assigning our 'CCC+' credit rating and '6' recovery rating to its $75 million second-lien term loan. The stable rating outlook reflects our expectation that the company's growth strategy and financial sponsor owners will keep adjusted debt leverage above 5x. On Dec. 13, 2011, Standard & Poor's Ratings Services assigned its 'B' corporate credit rating to Boca Raton, Fla.-based National...
Companies mentioned in this report are:
- Healogics 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.
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.