Moody's upgrades Kinetic Concepts ratings
Moody's Investors Service upgraded the senior credit ratings for medical technology company Kinetic Concepts Inc. on Tuesday, citing debt repayment.
Meanwhile, Moody's affirmed the long-term ratings and said the outlook remains stable.
Moody's upgraded the senior secured credit facility to "Baa3," or lower medium grade, from "Ba1," or non-investment grade, citing a reduction in the size of the company's term loan. It affirmed "Ba2," or speculative, corporate family and probability of default ratings.
Shares of Kinetic Concepts fell $1.25, or 3 percent, to close at $40.15 on Tuesday.