S&P: Res-Care unchanged

Standard & Poor's said its rating and outlook on Res-Care Inc. (BB-/stable) are not affected by the company's announcement of its plan to purchase the operating assets and business of Kelly Home Care Services Inc., a wholly owned subsidiary of Kelly Services Inc., for $12.5 million.

The acquisition is expected to close at the end of the 2007 first quarter, the agency said, noting that this acquisition is consistent with its expectations.

S&P said it anticipates that Res-Care will continue to selectively acquire programs to further diversify its service offerings, which are largely concentrated in residential assistance and employment training.

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