Moody's says UHS' add-on second-lien senior secured notes is credit positiveFebruary 7, 2013 | Industry News Release
Moody's Investors Service said that Universal Hospital Services, Inc.'s ("UHS") proposed $220 million add-on to its $425 million 7.625% senior secured second lien fixed rate notes due August 2020 is a credit positive. However, the add-on does not affect UHS's B2 Corporate Family Rating, B3 rating on the senior secured second lien notes, or stable rating outlook. For further information, please see www.moodys.com.
The principal methodology used in rating Universal Hospital Services, Inc. was the Global Business & Consumer Service Industry Rating Methodology, which can be found at www.moodys.com in the Rating Methodologies sub-directory under the Research & Ratings tab. Please see the Credit Policy page on www.moodys.com for a copy of these methodologies.
Headquartered in Minneapolis, Minnesota, Universal Hospital Services, Inc. ("UHS") is a leading nationwide provider of medical outsourcing and lifecycle services to the United States health care industry. The company primarily rents patient-ready medical equipment to hospitals and alternate site providers, and also offers a range of preventative maintenance, inspection, repair, logistic and consulting services. UHS is owned by private equity sponsors Irving Place Capital Merchant III, L.P.,
and reported revenues of approximately $408 million for the twelve months ended September 30, 2012.