BRIEF-Government Properties enters into commitment letter with Citigroup Global
* Government Properties Income Trust - entered into a commitment letter, or the commitment letter, with Citigroup Global Markets Inc
Nov 20 - Leveraged Commentary and Data (LCD News) reported today that MedAssets Inc. will refinance its current bank facility with a $250 million term loan A, a $350 million term loan B, and a $150 million revolving credit facility. If MedAssets proceeds with this refinancing, we do not expect it to affect our ratings on the company, given that outstanding debt would rise by a negligible amount (assuming an undrawn revolver at close).
MedAssets' "fair" business risk profile incorporates its position as one of three large participants in the highly competitive group purchasing industry and somewhat variable revenue visibility in the fragmented revenue cycle management (RCM) market. MedAssets' aggressive financial risk profile reflects pro forma adjusted debt leverage of just under 5x and funds from operations (FFO) to total debt of about 15%.
June 28 Online meal-kit company Blue Apron Holdings slashed the expected pricing range for its initial public offering to between $10 and $11 per share from its previous expectation of $15 to $17 per share.