It’s Friday and we have some financial information on National Surgical Hospitals, which is being sold to Irving Place Capital.
Moody’s Investors Service assigned a B2 corporate family rating to National Surgical, including its pending $220 million loan package it will use to back Irving Place Capital’s investment. The rating outlook is stable, Moody’s said.
Moody’s said the B2 rating reflects the fact that NSH will have “considerable” leverage follow IPC’s buy. Dean Diaz, a Moody’s VP and senior credit officer, said NSH will have 5.4x adjusted debt to EBITDA. NSH recognized about $286 million in revenue for the 12 months ended Sept. 30, Moody’s said.