Vizient Inc.#s New Debt Assigned #BB-# Rating

Stocks and Financial Services Press Releases Wednesday January 17, 2018 08:45
NEW YORK--17 Jan--S&P Global Ratings

NEW YORK (S&P Global Ratings) Jan. 16, 2018--S&P Global Ratings today assigned its 'BB-' issue-level rating to Vizient Inc.'s new revolver, term loan A, and term loan B. The recovery rating is '2', indicating our expectation for substantial (70%-90%; rounded estimate: 70%) recovery in the event of a payment default. The transaction does not affect leverage. The company will use the proceeds of the revolver and term loan A to repay a portion of its existing term loan B. In addition, the balance of the term loan B is being repriced.

The 'B+' corporate credit rating on Vizient reflects the company's leading but specialized focus as a group purchasing organization (GPO), or a negotiator of supply contracts to hospitals and other health care providers. It also reflects our expectation that leverage will remain between the mid-4x area and 5x over the next year.

For the corporate credit rating rationale, see the research update on Vizient published on Aug. 9, 2017.

Latest Press Release

Photo Release: KBank joins hands with partners to create K PARK, a new form of lifestyle space for suburban communities

KBank unveils the first K PARK on Hathairat 33 Road by teaming up with three business giants, namely, PTT (PTT gas station and Cafe Amazon), SCG Express and Amarin Printing and Publishing to open a new lifestyle space which offers delightful experiences...

CIMB Group Chairman to Step Down by 31 December 2018

CIMB Group ("CIMB" or "the Group") today announced that its Chairman, Dato' Sri Nazir Razak, will step down from his position as Group Chairman, and all other positions within the CIMB group of companies by 31 December 2018. The CIMB Board of Directors...

KTC jointly celebrates Mo-Mo-Paradises 10th anniversary by launching Dine with chances to win an exclusive trip to Japan! with China Airlines.

Mrs. Pranaya Nithananon, Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited, jointly with Mr. Surawech Telan, Managing Director, Noble Restaurant Company Limited, owner of "Mo-Mo-Paradise," a dark brown broth...

Photo Release: AOT entrusts KTAM to manage provident fund for 3 years

Mr.Wichai Bunyu (2nd left), the President of The Airports Of Thailand PCL. Employee's Registered Provident Fund (AOT) and Mr. Visit Balee (1st right), Fund committee recently held a Provident Fund management contract signing ceremony with Mr. Veera...


Indorama Ventures' world-class manufacturing and Loop's state-of-the-art recycling technology combined to invest in multi-billion dollar sustainable PET resin and polyester market opportunity Demand for supply of sustainable PET sees explosive growth...

Related Topics