Research Update: France-Based Clinical Laboratory Operator Cerba Assigned Preliminary 'B+' Long-Term Rating; Outlook Stable Jan 13
- Language: English
- Published: January 2013
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
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. SHOW LESS READ MORE >