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Physio-Control International Inc. Assigned 'B+' Corporate Credit Rating; Outlook Is Stable Feb 12 Product Image

Physio-Control International Inc. Assigned 'B+' Corporate Credit Rating; Outlook Is Stable Feb 12

  • Published: February 2012
  • Standard & Poors

Abstract
On Jan. 31, 2012, Bain Capital Partners LLC announced that it had completed its acquisition of U.S.-based defibrillator manufacturer Physio-Control International Inc. from Medtronic Inc. The acquisition was financed with $315 million senior secured notes and about $170 million of sponsor equity. We are assigning a 'B+' corporate credit rating to Physio-Control. In addition, we are assigning a 'B+' debt rating and '4' recovery rating to the $330 million senior secured notes due 2019. Our stable rating outlook reflects our expectations that financial parameters will modestly improve over the next year as a result of sales and EBITDA growth in the mid-single digits. NEW YORK (Standard & Poor's) Feb. 10, 2012--Standard & Poor's Ratings Services said today that it assigned...

Companies mentioned in this report are:
- Physio-Control International, 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 READ MORE >

- Physio-Control International, Inc.

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