Fitch rates athenahealth B, loans B+

Fitch Ratings said it assigned a long-term issuer default rating of B with a stable outlook to athenahealth Group, Inc. following the agreement to be acquired by Bain Capital and Hellman & Friedman in a deal valued at $17 billion.

Fitch also assigned a senior secured first-lien issue rating of B+/RR3 to the planned term loan and delayed-draw term loan issuances.

Fitch withdrew the B+/RWN issuer default ratings of athenahealth, Inc., VVC Holding Corp. and athenahealth Intermediate Holdings LLC as these entities will no longer issue debt under the new structure.

“athenahealth continues to exhibit a strong growth profile after exiting the depth of the U.S. lockdowns,” the agency said in a news release.

Fitch said it expects athenahealth to sustain its reliable organic growth profile as a result of strong secular trends in U.S. health care spending.

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