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S&P assigns InSight Health floaters B
Standard & Poor's said it assigned its B senior secured debt rating and a recovery rating of 2 to InSight Health Services Corp.'s proposed $250 million floating-rate notes due 2011.
Other existing ratings on InSight, including the B corporate credit rating, were affirmed. The outlook is stable.
S&P said the ratings on InSight reflect the highly fragmented and competitive nature of the medical imaging industry, the limited barriers to competitor entry and reimbursement risk.
These risks overshadow the favorable effect on the industry as the population ages, the ability of imaging to limit overall health costs and the expanded approval of imaging for additional disease states, the agency added.
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