TORONTO (S&P Global Ratings) Oct. 30, 2026--S&P Global Ratings today affirmed its ‘BBB-’ issue-level rating on U.S.-based medical device manufacturer Teleflex Inc. ’s senior secured debt and revised the recovery rating to ‘1’ from ‘2’ following the recent $700 million repayment of its term loan A-2. The ‘1’ recovery rating indicates our expectation for very high (90%-100%; rounded estimate: 95%) recovery of principal for senior secured debtholders in the event of a payment default. Although a ‘1’ recovery rating typically results in a two-notch uplift above the issuer credit rating, we typically don’t do so on debt issued by companies with issuer credit ratings of ‘BB+’ more than once regardless of the recovery rating, per our criteria. Therefore, the senior
