TORONTO (S&P Global Ratings) Sept. 5, 2023--S&P Global Ratings today said Heartland Dental LLC's (B-/Stable/--) proposed $100 million add-on to its existing 10.5% senior secured notes due 2028 will not materially affect the company's credit metrics. Heartland will use proceeds from the add-on to repay the remaining $85 million of its nonextended first-lien term loans due 2025 and to pay related fees and expenses. It will add the remainder to its balance sheet. Last month, the company completed a $350 million fungible add-on to its first-lien term loan due 2028, also using proceeds to repay a portion of the nonextended first-lien term loans due 2025 in a leverage neutral transaction. The issuance does not affect our issuer credit rating and
