S&P revises ratings on three renal companies

S&P said it has reviewed all of the recovery and issue-level ratings for renal companies in the U.S. health care services sector for speculative-grade corporate issuers that were considered as under criteria observation after the agency published its revised recovery ratings criteria Dec. 7.

With the criteria review complete, the agency said it revised the issue-level and recovery ratings as appropriate.

These actions stem solely from the application of the revised recovery criteria and do not reflect any change in the assessment of the corporate credit ratings for issuers of the affected debt issues, S&P said.

American Renal Holdings Inc.’s senior secured rating was upgraded to B+ from B with its recovery rating revised to 2H from 4H.

DaVita HealthCare Partners Inc.’s senior secured rating was upgraded to BBB- from BB with its recovery rating revised to 1 from 3H. Its senior unsecured rating was affirmed at B+ with recovery rating at 6.

U.S. Renal Care Inc.’s senior secured rating was affirmed at B and its recovery rating was revised to 3L from 4H. Its senior secured second-lien rating was affirmed at CCC+ with recovery rating at 6.

© 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.