Gemino Healthcare Finance Assigned BBB Rating From DBRS Rating Agency
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PHILADELPHIA, PA, Jun 24 (MARKET WIRE) --
DBRS has assigned a BBB rating to Gemino Healthcare Finance, LLC
("Gemino"), a specialty finance company that provides senior debt
financing through asset-based and term loans exclusively to middle-market
healthcare service providers located throughout the United States. The
facility rated is funded by WestLB AG.
As part of its rating analysis, DBRS considered the quality of the Gemino
management team, the firm's operational capabilities, the historical
performance of the collateral backing of the revolving credit facility,
the attendant portfolio concentration risks, the financial structure and
the soundness of the facility's legal structure.
"We are excited about receiving our BBB rating," said Mike Gervais, CEO of
Gemino. "Gemino's management, with the support of WestLB AG, our warehouse
facility partner, and the company's investors achieved an investment grade
rating during one of the worst credit environments in anyone's experience.
This investment grade rating is confirmation of the quality of the
business we have built and our expertise in the industry. We have a solid
reputation and are serving the capital needs of healthcare providers
throughout the United States."
"This significant milestone is a testament to the quality of Gemino's
management, its operational depth, the strength of their credit portfolio
and continued support of the company's investors," said Michael Gaffney,
Chairman of Gemino and co-founder of EDG Partners, LLC.
To learn more about Gemino Healthcare Finance please visit www.gemino.com
To learn more about EDG Partners, LLC, please visit www.edgpartners.com
CONTACT:
Joni Miller
770-321-4033
Email Contact
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