France-based clinical laboratory operator Cerba European Lab SAS (Cerba) has issued ?365 million of notes to refinance its bank debt. We assess Cerba's financial risk profile as "highly leveraged" and its business risk profile as "fair." We are assigning our 'B+' long-term corporate credit rating to Cerba. The stable outlook reflects our view that Cerba's market position, increasing scale, and operating model should enable it to sustain its operating performance and cash flow generation. On Feb. 18, 2013, Standard & Poor's Ratings Services assigned its 'B+' long-term corporate credit rating (CCR) to France-based clinical laboratory operator Cerba European Lab SAS (Cerba). The outlook is stable. At the same time, we assigned our 'B+' issue rating to Cerba's ?365 million senior...
Companies mentioned in this report are:
- Cerba European Lab SAS
Action: New Rating
Action: Outlook: Stable
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Product Type: Research Update
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