Moody's could cut Multiplan parent

Moody's Investors Service said it placed the ratings of MPH Intermediate Holding Co. 2 (the indirect parent of MultiPlan, Inc.) under review for downgrade, including the company's B2 corporate family rating, B2-PD probability of default rating and debt instrument ratings at both MPH Intermediate Holding Co. 2 and MultiPlan, Inc.

The review was prompted by the Feb. 17 announcement that Starr Investment Holdings and Partners Group AG agreed to purchase MultiPlan from BC Partners Holdings and Silver Lake Management.

Although financing details have not been provided, the company could have higher financial leverage following the pending sale. The review will focus primarily on the financial leverage and the capital structure that will result from the sale to Starr Investment Holdings and Partners Group AG, as well as ongoing operating trends at Multiplan, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.