S&P puts Cloudmed on positive watch

S&P said it placed all its ratings for Cloudmed (Revint Intermediate II LLC), including its B- senior secured ratings, on CreditWatch with positive implications.

The placement follows higher-rated R1 RCM Inc. reporting it will acquire Cloudmed for an enterprise value of $4.1 billion, in an all-stock transaction, the agency said. It expects R1 RCM to redeem all of Cloudmed’s debt.

S&P said it plans to resolve the CreditWatch when the deal closes.

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