S&P upgrades Option Care Health

S&P said it upgraded Option Care Health Inc. and its first-lien term loan to B from B-.

“Our upgrade primarily reflects Option Care Health Inc.'s improved credit metrics and reduced debt, resulting in expected adjusted debt to EBITDA of 4.5x-5x in 2021. The company has materially reduced its adjusted leverage following voluntary debt reduction in 2020 and through modest EBITDA expansion, despite an adverse shift in service mix toward the lower-margin chronic care business and increased spending on personal protective equipment,” the agency said in a press release.

The outlook is positive.

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