S&P changes MDVIP view to stable

S&P said it revised its outlook on Mamba Purchaser Inc. (doing business as MDVIP) to stable from negative and affirmed the B issuer credit rating.

At the same time, S&P affirmed its B issue-level rating on the company's secured first-lien debt and its CCC+ issue-level rating on its second-lien debt.

“The stable outlook reflects MDVIP's improved credit metrics and return to a relatively modest, but reliable, business expansion following its leveraged buyout (LBO), with EBITDA interest coverage of more than 2x and free operating cash flow (FOCF) to debt of more than 5%,” S&P said in a news release.

© 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.