S&P rates Envision Healthcare CCR BB-

Standard & Poor's said it affirmed all ratings, including the BB- corporate credit rating, on Envision Healthcare Corp.

In addition, the agency assigned its BB- corporate credit rating to Envision Healthcare Holdings Inc., the parent of Envision Healthcare Corp. The outlook is stable.

S&P subsequently withdrew its BB- corporate credit rating on Envision Healthcare Corp.

"The ratings reflect Envision Healthcare's concentration in emergency medicine staffing and its participation in highly competitive markets," S&P credit analyst Tulip Lim said in a news release.

These risks are moderated by the company's operations in medical transport, its scale compared with its competitors and the agency’s expectation that the company will continue to grow at a solid rate, in part, by taking share in a very fragmented marketplace. For these reasons, S&P considers the business profile to be "fair."

The ratings also reflect the company's growth strategy, which S&P believes will likely prevent sustained deleveraging below 4 times.

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