S&P rates FHC Health loan B+

Standard & Poor’s said it affirmed the B long-term corporate credit rating on FHC Health Systems Inc.

The agency also said it assigned a B+ rating to the company’s $415 million senior secured credit facilities with 2 recovery ratings.

The 2 recovery rating indicates 70% to 90% expected default recovery.

All existing FHC Health debt will be repaid, S&P said.

The outlook is stable.

The ratings reflect the company’s market position as the largest independent behavioral health management company in the United States based on covered lives, S&P said, and the company’s financial sponsor ownership and aggressive financial policies.

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