S&P rates U.S. Anesthesia loans B, CCC+

S&P said it assigned a B corporate credit rating to U.S. Anesthesia Partners Holdings Inc.

The outlook is stable.

The agency also said it assigned a B rating and 3 recovery rating to subsidiary U.S. Anesthesia Partners Inc.'s proposed first-lien credit facility, consisting of a $150 million revolver and $950 million first-lien term loan.

The 3 recovery rating indicates 50% to 70% expected default recovery.

S&P also said it assigned a CCC+ rating and 6 recovery rating to U.S. Anesthesia Partners' proposed $300 million second-lien term loan.

The 6 recovery rating indicates 0 to 10% expected default recovery.

The company has grown rapidly since 2012 through acquiring established groups of anesthesiologists and providing them with capital resources and business expertise, while allowing the physician partners to maintain clinical governance, the agency said.

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