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S&P rates Medi-Partenaires, notes B
Standard & Poor's said it assigned its B long-term corporate credit rating to Holding Medi-Partenaires SAS, a French hospital operator.
The outlook is stable.
At the same time, S&P assigned its B issue rating to Medi-Partenaires' €385 million senior secured notes due 2020. The recovery rating on these notes is 4, indicating an expectation of average (30%-50%) recovery in the event of a payment default.
The B corporate credit rating on Medi-Partenaires reflects S&P's view of the group's "fair" business risk profile and "highly leveraged" financial risk profile, as criteria define these terms, the agency said.
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