S&P upgrades Res-Care

Standard & Poor's said it raised its ratings on Res-Care Inc., including the corporate credit rating to B+ from B, the senior secured debt rating to BB- from B+ and the senior unsecured debt rating to B from B-.

At the same time, S&P revised its outlook on the company to stable from positive.

S&P said the upgrade reflects Res-Care's improved liquidity following an equity infusion from its financial sponsor, as well as the company's improved operating performance, its execution of a controlled acquisition strategy, and the anticipated improvements in its financial profile due to acquisitions and new contracts.

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