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. LONDON (Standard & Poor's) Feb. 18, 2013--Standard & Poor's Ratings Services said today that it 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...
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.
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.