Gemino Healthcare Finance Assigned BBB Rating From DBRS Rating Agency
Market Wire, June, 2009
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
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