VCVH Holding II Corp. Ratings Placed On CreditWatch Positive On Acquisition of Cotiviti Corp.

Stocks and Financial Services Press Releases Wednesday June 20, 2018 09:34
NEW YORK--20 Jun--S&P Global Ratings

NEW YORK (S&P Global Ratings) June 19, 2018--S&P Global Ratings today placed its 'B-' corporate credit and debt ratings on VCVH Holding II Corp. (Verscend) on CreditWatch with positive implications following the company's announcement that it plans to acquire Cotiviti Corp. (BB-/Positive/--).

The CreditWatch placement reflects Verscend's proposed acquisition of higher-rated Cotiviti and the potential for the ratings to be raised when the transaction closes. We could view the combined business as a stronger and higher-margin business than the stand-alone Verscend company. Details of the capital structure have not been announced, but we expect leverage will remain high under private equity ownership. Still, given the 'B-' rating on Verscend and the potential business improvements from the transaction, we believe there is some upside potential in the rating.

We expect to resolve our CreditWatch listing when the transaction closes.

Latest Press Release

MicroBitcoin Open Source Community เซ็นสัญญากับสมาพันธ์แรงงานในเกาหลี เปิดโอกาสให้แรงงาน 1.5 ล้านคนได้ใช้เงินดิจิทัล

MicroBitcoin Open Source Community เซ็นสัญญากับสมาพันธ์แรงงาน Korea Association of Care Workers (KACW) เพื่อนำสกุลเงินดิจิทัล MicroBitcoin มาใช้ สัญญานี้ลงนามร่วมกันสามฝ่าย ได้แก่ MicroBitcoin Open Source Community, KACW และ Bluequotient...

MicroBitcoin Open Source Community Signs an Exclusive Contract with the Korea Association of Care Workers (KACW) to Expand its Usability to One and a Half Million Users

The MicroBitcoin Open Source Community has signed a contract with Korea Association of Care Workers (KACW) to adapt the MicroBitcoin blockchain network protocol. The trilateral contract was made between the MicroBitcoin Open Source Community, the Korea...

WICE establishes a joint-venture, EUROASIA TOTAL LOGISTICS, with its holding 40% of shares to provide cross-border transport services between China, Hong Kong

WICE establishes a joint-venture, "EUROASIA TOTAL LOGISTICS", with its holding 40% of shares to provide cross-border transport services between China, Hong Kong, and South East Asia with the expectation to achieve the first year's revenue at 200 million...

Photo Release: Krungsri Asset Management wins Best Asset Fund Manager 2018 from Alpha Southeast Asia

Miss Siriporn Sinacharoen, Managing Director, Krungsri Asset Management Company Limited received the Best Asset & Fund Manager Award 2018 from Alpha Southeast Asia magazine at a presentation ceremony on 18 September 2018. Behind-success factors...

Bangkok Bank Public Company Limited Offshore Offering and Issuance of US$1.2 Billion Senior Unsecured Notes under its US$3,000,000,000 Global Medium Term Note Program

Bangkok Bank Public Company Limited (the Bank), acting through its Hong Kong Branch, has offered and issued the following 2 tranches of US$1.2 billion senior and unsecured notes (the Notes) under its US$3,000,000,000 Global Medium Term Note Program to...

Related Topics