Fitch assigns CCC+ to athenahealth notes

Fitch Ratings said it assigned CCC+/RR6 senior unsecured issue ratings to athenahealth Group Inc.'s planned $2.5 billion in new senior unsecured notes. The RR6 rating indicates lenders should be able to recover an estimated 0%-10% in a restructuring.

The notes are being sold in connection with the acquisition of the company by Bain Capital and Hellman & Friedman in a deal valued at $17 billion.

Last week, the agency gave the company a B rating and B+/RR3 ratings to its expected $5.75 billion term loan and $1 billion delayed-draw term loan.

The outlook is stable.

© 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.