...BOSTON (S&P Global Ratings) Feb. 17, 2017--S&P Global Ratings today assigned its '##+' rating to U.S.-based medical device company Teleflex Inc.'s $1 billion revolving credit facility maturing in 2022. The recovery rating is '3', indicating our expectations for meaningful recovery in the event of default, at the high end of the 50% to 70% range. The company is using the revolver, along with the previously rated $750 million term loan, to fund its acquisition of Vascular Solutions and refinance its $850 million revolver maturing in 2018. Simultaneously, we are withdrawing our rating on the $850 million revolver (###-/Watch Neg; recovery rating '1'). Our '##+' corporate credit rating on Teleflex reflects our assessment of the company's business risk as fair and the financial risk as intermediate. The outlook is stable. Our assessment of the company's business risk reflects good product and geographic diversification, the recurring nature of the revenue streams from the company's portfolio...
