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S&P revises Team Health view negative
S&P said it revised the outlook for Team Health Holdings Inc. to negative from stable and affirmed the B- ratings on the company and its senior secured debt. S&P also affirmed the CCC senior unsecured ratings.
In explaining the outlook revision S&P said in a press release, “U.S. physician staffing company Team Health Holdings Inc. is likely to experience significant clinical and operational challenges from Covid-19, including much lower patient volumes.”
“We estimate about 10% of Team Health's business has exposure to anesthesia and thus to deferrable procedures, which could decline as much as 50% over several quarters,” the agency said.
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