S&P: Radiation Therapy on watch

Standard & Poor's said it placed its ratings, including the BB- corporate credit rating, on Radiation Therapy Services Inc. on CreditWatch with negative implications.

The agency said that this action follows the announcement by Vestar Capital Partners to purchase the company for $764 million, adding that the deal is valued at about $1.1 billion, including the assumption of debt.

At June 30, Radiation Therapy had adjusted debt leverage of 3.2x and had generated almost $50 million of cash from operations over the prior 12-month period, S&P noted.

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