...BOSTON (S&P Global Ratings) Feb. 1, 2017--S&P Global Ratings today assigned its '##+' issue-level rating to Teleflex Inc.'s newly issued $750 million senior secured delayed-draw term loan. The recovery rating on this debt is '3', indicating expectations for meaningful (50%-70%; higher end of the range) recovery of principal in the event of a default. Teleflex is issuing this debt as part of its acquisition of Vascular Solutions Inc. Our '##' rating on the senior notes (with a '5' recovery rating), and '##-' rating on the subordinated notes (with a '6' recovery rating) are unchanged. Our corporate credit rating on Teleflex remains '##+' and our outlook remains stable. The corporate credit rating reflects our assessment of fair business risk and intermediate financial risk. Our assessment of business risk reflects good product and geographic diversification, the recurring nature of the revenue streams from the company's portfolio of single-use products, and average profitability (adjusted...
