Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Sheridan Healthcare Inc. > News item |
S&P affirms Sheridan Healthcare
Standard & Poor's said it affirmed its B+ corporate credit rating on Sheridan Healthcare Inc. in light of the company's proposed second amendment to its senior secured credit agreement.
The outlook remains stable.
The B+ bank loan rating and recovery rating of 3 on the company's first-lien credit facility were also affirmed, the agency said.
The ratings evidence S&P's ongoing concerns regarding Sheridan's narrow operating focus and the concentration of its payors and regions of operation.
The ratings also reflect Sheridan's exposure to malpractice risk, the threat of increased competition and the company's relatively high debt burden, the agency said, noting these concerns are partially offset by Sheridan's strong operating performance since ratings were initially assigned to the company in October 2004, an industry trend toward physician outsourcing and the company's leading niche positions in anesthesia and neonatology staffing, which have contributed to its consistent organic growth.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.