S&P upgrades Invacare

Standard & Poor's said it raised Invacare Corp.'s corporate credit rating to BB from B+, its revolving credit facility to BBB- from BB, unsecured 9.75% senior notes to BB from B+ and its unsecured 4.125% senior subordinated convertible notes to B+ from B-.

The outlook is stable.

"The speculative-grade ratings on medical equipment manufacturer Invacare reflect the company's ongoing indirect exposure to potential reductions in Medicare reimbursement and near-term exposure to an evolving competitive bidding environment," S&P analyst Jack Harcourt said in a statement.

Ratings also reflect the company's concentration in wheelchairs and counterparty risk on its accounts receivable.

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