S&P: InterDent outlook up to positive

Standard & Poor's said it revised its outlook on InterDent Inc. to positive from negative and affirmed its CCC corporate credit rating on the company.

Higher profit margins and reduced debt leverage improve InterDent's prospects for refinancing all of its outstanding debt, which matures in 2011, the agency noted.

At the same time, the agency said it affirmed its CCC- issue credit rating on subsidiary InterDent Service Corp.'s senior secured second-lien notes that are guaranteed by its parent InterDent Inc.

"Our CCC rating on InterDent largely reflects its refinancing risk," said S&P credit analyst Gail Hessol, who added that all of InterDent's outstanding debt matures in 2011 and its financial risk profile remains highly leveraged.

At June 30, adjusted debt to EBITDA was 6.1x.

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