Moody's upgrades Radiology Partners

Moody's Investors Service said it raised Radiology Partners, Inc.'s ratings, including corporate family rating to B3 from Caa1, probability of default rating to B3-PD from Caa1-PD, first-lien senior secured rating to B2 from B3 and rating on the company's senior unsecured notes to Caa2 from Caa3. The outlook was changed to stable from positive.

“The upgrade of Radiology Partners' ratings reflects a significant recovery in patient volumes in recent months following very steep declines in the second quarter of 2020 triggered by the coronavirus pandemic. The upgrade also reflects the company's materially expanded scale and geographic diversity after completing the acquisition of the radiology business from Mednax, Inc.,” Moody’s said in a press release.

The stable outlook reflects an expectation Radiology Partners will gradually lower its leverage and strengthen its cash flow. “It also reflects an expectation that the company will be less aggressive with its acquisition-led growth strategy going forward,” the agency said.

© 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.