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S&P affirms Hologic ratings after refinancing

S&P Global Ratings affirmed Hologic Inc.'s BB+ corporate credit rating on news of the company's $3 billion debt refinancing, noting that it was a leverage-neutral transaction.

The outlook on the ratings is stable.

"Our assessment of Hologic's business risk profile reflects its diverse product offerings, above-average EBITDA margins of about 33%, a leading market position in breast health, and high barriers to entry," S&P said.

The rating agency forecasts a mid-single-digit revenue growth for Hologic in 2018, driven by mergers and acquisitions, particularly its acquisition of Cynosure.

Further, S&P sees a low- to mid-single-digit organic growth for the company, supported by the expansion of its breast health segment and rising diagnostics sales.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.