S&P revises Radiology Partners view to negative

S&P revised its outlook on Radiology Partners Holdings LLC to negative from stable but affirmed its B long-term issuer credit rating of the company.

At the same time, S&P affirmed its B rating on the company’s first-lien secured debt and 3 recovery rating and CCC+ rating on the company’s secured second-lien debt and 6 recovery rating.

“The negative outlook reflects the risk to our base-case expectation that Radiology Partners can successfully integrate recent acquisitions, resulting in margins of about 19% and minimal free cash flow (after one-time transaction-related expenses),” S&P said in a news release.

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