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S&P cuts Sound Inpatient Physicians
S&P said it lowered its ratings for Sound Inpatient Physicians Inc. and its first-lien term loan to CCC from B- and its second-lien term loan to CC from CCC.
“Sound Inpatient Physicians Inc., facing weak cash flows and significantly high leverage, has hired a firm to advise on its capital structure.
“Considering the company's weak financial performance and cash flow, very high leverage, and low trading levels, we believe it will consider options to reduce debt, including distressed exchanges,” S&P said in a statement.
The outlook is negative.
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