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S&P: Radiation Therapy loan BB-, notes B+
Standard & Poor's said it affirmed its B corporate credit rating on Radiation Therapy Services Inc. and raised the outlook to stable from negative.
In addition, the agency said it assigned its BB- debt rating and 1 recovery rating to the company's proposed revolver and its B+ debt rating and 2 recovery rating to the company's proposed second-lien notes.
S&P said the rating on Radiation Therapy Services Inc. reflects its assessment of the company's business risk profile as weak and financial risk profile as highly leveraged.
"We expect Radiation Therapy to continue to be subject to significant reimbursement risk such as the recent Medicare payment cut (8% for IMRT and 22% for IGRT treatments) to radiation treatment providers for 2012," said S&P credit analyst John Bluemke in a news release.
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