S&P affirms Physio-Control

Standard & Poor's said it affirmed its B rating on Physio-Control International Inc.'s first-lien term loan and its CCC+ rating on the second-lien term loan.

The affirmation follows Physio-Control's announcement that it plans to acquire HeartSine Technologies Inc. and to add on $40 million to its first-lien term loan and $23 million to its second-lien term to fund the acquisition. The recovery rating on the $390 million first-lien term loan is 3 and the recovery rating on the $153 million second-lien term loan is 6.

Physio-Control’s corporate credit rating is B and its outlook is stable.

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