MedImpact Holdings, Inc. -- Moody's raises MedImpact's CFR to B3 from Caa1; outlook stable

New York, July 16, 2013 -- Moody's Investors Service upgraded MedImpact Holdings, Inc.'s Corporate Family Rating to B3 from Caa1 and its Probability of Default rating to B3-PD from Caa1-PD. At the same time, the company's senior secured notes were raised to Caa2 from Caa3. The rating outlook is stable. This rating action incorporates MedImpact's announced plans to acquire Medical Security Card Company, LLC (MSCC) and Apex Affinity, Inc., both offering discount drug card services to retailers and other customers. In addition, this action considers the company's bondholder consent solicitation to raise another $160 million in secured notes to help fund these transactions.

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