Moody’s changes ADMI view to stable

Moody’s Investors Service said it changed ADMI Corp.’s (Aspen Dental) outlook to stable from negative and affirmed its B2 corporate family rating, the B2-PD probability of default rating and the B2 first-lien senior secured debt rating.

“The stabilization of the outlook reflects Aspen’s return of patient volumes to near pre-coronavirus levels. At the same time, strong cost management has enabled the company to maintain strong profitability and cash flow through the coronavirus pandemic,” Moody’s said in a press release.

The outlook also reflects the view that another nationwide mandate to defer dental services is unlikely. Aspen’s geographic diversity should limit the effect of coronavirus outbreaks in any particular region, the agency said.

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