A Medical Device Daily

Elbit Medical Imaging (EMI; Tel Aviv, Israel) said that Maalot-the Israel Securities Rating Company Ltd., an affiliate of Standard & Poor's Rating Services, has informed EMI that it had approved a rating of “A” on a local scale for the raising of additional debt by the company of up to $140 million.

The proceeds will be used for the replacement of bank loans, including the removal of the pledge on the entire share capital of Plaza Centers (Europe), a subsidiary of EMI, in favor of Bank Hapoalim.

In addition, Maalot informed EMI that it had approved a similar local-level “A” rating for the company's Series A and Series B notes.

The securities may not be offered or sold in the U.S. without registration or an applicable exemption from registration requirements.

EMI is a subsidiary of Europe Israel (M.M.S.) Ltd. The company's activities are divided into four principal fields, one of which is investments in the research and development, production and marketing of MRI-guided focused ultrasound treatment equipment through its subsidiary, InSightec Ltd.