S&P: BCPE Eagle loans B, CCC+

S&P said it assigned a B corporate credit rating to BCPE Eagle Buyer LLC.

The outlook is stable.

The agency also said it assigned a B rating to the company's proposed $75 million revolving credit facility and $585 million term loan.

The recovery rating is 3, indicating 50% to 70% expected default recovery.

The agency also said it assigned a CCC+ rating to the company's proposed $240 million second-lien term loan. The recovery rating is 6, indicating 0 to 10% expected default recovery.

Epic/Freedom LLC and Pediatric Services of America are merging to form BCPE Eagle Buyer, S&P explained.

The ratings on BCPE Eagle reflect its weak business risk profile and an expectation that debt leverage will remain higher than 5x, S&P said.

The company's business risk is characterized by its relatively narrow focus on the pediatric home health market, substantial geographic and payor concentrations and highly fragmented nature of the home-health industry, the agency said.

The company has a leading market share in several states, S&P added.

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