S&P lifts Aveta from CCC+

Standard & Poor's said it raised the counterparty credit ratings on Aveta Inc., MMM Holdings Inc. and NAMM Holdings Inc. to B from CCC+.

The agency raised the senior secured credit facility issued through MMM and NAMM to B from CCC+.

The outlook is stable.

S&P said the upgrade reflects Aveta's improving earnings and cash-flow profile, which has been driven mainly by core operational fixes related to medical management and contracting initiatives.

The issuer's debt-to-adjusted EBITDA ratio is expected to be about 2x to 2.2x, which is considered to be moderately conservative, according to the agency said.

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