11.01.2016 20:54:00
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American Renal Holdings, Inc. -- Moody's says, American Renal's IPO and Use of Proceeds to Repay Debt Is Credit Positive
New York, January 11, 2016 -- American Renal Holdings Inc. (B2 stable) announced today a $60 million 1st lien add-on, along with the commencement of its initial public offering. Proceeds are expected to be used to repay the company's $239 million second lien term loan and pay a $30 million dividend to shareholders. Moody's views the initial public offering as credit positive because the company plans to use the proceeds to pay down debt. There is no change to any of American Renal's ratings including the B2 Corporate Family Rating or stable outlook.