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American Dental Partners Inc. Assigned 'B' Corporate Credit Rating; Outlook Is Stable Jan 12
Standard & Poors, Jan 2012
Abstract
U.S.-based American Dental Partners Inc., a provider of dental practice management (DPM) services, is being acquired in a leveraged buy-out (LBO) by affiliates of JLL Partners, Inc. and other investors for $427.2 million including the repayment of ADP's existing debt. The shareholder vote is scheduled for Feb. 7, 2012. We are assigning our 'B' corporate credit rating to American Dental Partners Inc. (ADP). We are also assigning our 'B' credit rating and '3' recovery rating to ADP's proposed $36 million first-lien revolving credit facility and $205 million first-lien term loan. Our stable rating outlook reflects our expectation that the company's growth strategy and financial sponsor owners will keep the financial risk profile 'highly leveraged,' as defined in our criteria. NEW...
Companies mentioned in this report are: American Dental Partners, 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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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