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S&P rates ExamWorks loan B
S&P said it assigned a B issuer credit rating to Electron BidCo Inc. (d.b.a. ExamWorks).
At the same time, the agency assigned a B issue-level rating and 3 recovery rating to the first-lien credit facilities.
The outlook is stable.
“Our rating reflects ExamWorks' high leverage of about 8x expected for 2021 and its narrow business focus. Partially offsetting these factors is our expectation that the company will generate modest cash flow and its position as the largest independent medical examiner in several countries,” S&P said in a news release.
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