Cidron Gloria, Holding Company Of German Home Care Provider GesundHeits GmbH Deutschland, Rated 'B'; Outlook Stable - S&P Global Ratings’ Credit Research

Cidron Gloria, Holding Company Of German Home Care Provider GesundHeits GmbH Deutschland, Rated 'B'; Outlook Stable

Cidron Gloria, Holding Company Of German Home Care Provider GesundHeits GmbH Deutschland, Rated 'B'; Outlook Stable - S&P Global Ratings’ Credit Research
Cidron Gloria, Holding Company Of German Home Care Provider GesundHeits GmbH Deutschland, Rated 'B'; Outlook Stable
Published Oct 15, 2014
4 pages (1835 words) — Published Oct 15, 2014
Price US$ 150.00  |  Buy this Report Now

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Abstract:

Germany-based home care provider GesundHeits GmbH Deutschland (GHD) has successfully issued €310 million of first-lien notes and set up a €45 million secured revolving credit facility as a part of its takeover by private equity firm, Nordic Capital. We are assigning our 'B' long-term corporate credit rating to GHD's holding company, Cidron Gloria Holding GmbH (Cidron). The stable outlook reflects our view that Cidron will maintain an adjusted EBITDA margin of about 10% and funds from operations cash interest coverage of about 2.5x over the next 12 months. FRANKFURT (Standard&Poor's) Oct. 15, 2014--Standard&Poor's Ratings Services said today that it had assigned its 'B' long-term corporate credit rating to Cidron Gloria Holding GmbH (Cidron), the holding company

  
Brief Excerpt:

...+ Germany-based home care provider GesundHeits GmbH Deutschland (GHD) has successfully issued 310 million of first-lien notes and set up a 45 million secured revolving credit facility as a part of its takeover by private equity firm, Nordic Capital. + We are assigning our 'B' long-term corporate credit rating to GHD's holding company, Cidron Gloria Holding GmbH (Cidron). + The stable outlook reflects our view that Cidron will maintain an adjusted EBITDA margin of about 10% and funds from operations cash interest coverage of about 2.5x over the next 12 months. FRANKFURT (Standard & Poor's) Oct. 15, 2014--Standard & Poor's Ratings Services said today that it had assigned its 'B' long-term corporate credit rating to Cidron Gloria Holding GmbH (Cidron), the holding company of Germany-based home health care services provider GHD GesundHeits GmbH Deutschland (GHD). The outlook is stable. At the same time, we assigned our 'B' issue rating to Cidron's senior secured debt facilities, in line with...

  
Report Type:

Ratings Action

Issuer
Sector
Global Issuers
Country
Region
Europe, Middle East, Africa
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MLA:
S&P Global Ratings’ Credit Research. "Cidron Gloria, Holding Company Of German Home Care Provider GesundHeits GmbH Deutschland, Rated 'B'; Outlook Stable" Oct 15, 2014. Alacra Store. May 02, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Cidron-Gloria-Holding-Company-Of-German-Home-Care-Provider-GesundHeits-GmbH-Deutschland-Rated-B-Outlook-Stable-1364357>
  
APA:
S&P Global Ratings’ Credit Research. (). Cidron Gloria, Holding Company Of German Home Care Provider GesundHeits GmbH Deutschland, Rated 'B'; Outlook Stable Oct 15, 2014. New York, NY: Alacra Store. Retrieved May 02, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Cidron-Gloria-Holding-Company-Of-German-Home-Care-Provider-GesundHeits-GmbH-Deutschland-Rated-B-Outlook-Stable-1364357>
  
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