S&P removes ADMI from watch

S&P said it affirmed ADMI Corp.’s B rating and removed it from CreditWatch with negative implications. The outlook is negative.

ADMI and the supported practices cut costs and preserved cash during the pandemic, reducing the risk for a potential downgrade, S&P said.

Since April, ADMI started to recover, posting revenues close to 2019 levels in June, the agency said.

“While the practices' revenues ramped up in the summer as practices reopened and patient volumes increased, we believe after fulfilling the pent-up demand from temporary closures earlier, there is still a risk to the sustainability of future demand while the pandemic continues,” S&P said in a press release.

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