DJO Global Inc. Revolver Rated 'BB-'; Senior Secured Notes Assigned 'B+' Rating Mar 12
Standard & Poors, March 2012
Abstract
U.S. medical device manufacturer DJO Global is refinancing a portion of its debt, which should improve liquidity. We are assigning our 'BB-' credit rating to the proposed $100 million revolving credit agreement and proposed $300 million term loan to be issued by DJO Finance LLC, a subsidiary of DJO Global. We are also assigning our 'BB-' credit rating to the proposed senior secured term loan extension of an undisclosed amount. We are also assigning our 'B+' credit rating to the proposed $225 million senior secured notes. The rating outlook is stable, reflecting our expectation of continued high leverage and low-single-digit annual revenue growth over the medium term. NEW YORK (Standard & Poor's) March 5, 2012--Standard & Poor's Ratings Services said...
Companies mentioned in this report are:
- DJO Global Inc.
- DJO Finance LLC
- DJO Finance Corp.
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.
- DJO Global Inc.
- DJO Finance LLC
- DJO Finance Corp.
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