S&P affirms Alliance HealthCare Services

Standard & Poor’s said it affirmed its B+ corporate credit rating on Alliance HealthCare Services. The outlook is stable.

S&P also affirmed the B+ issue-level rating on the $520 million term loan, which includes the $30 million add-on. The recovery rating on this facility is 3, indicating an expectation of meaningful (50% to 70%; on the low end of the scale) recovery for lenders in the event of a payment default.

“The rating on Newport Beach, Calif.-based Alliance HealthCare reflects a largely single business focus in a fragmented diagnostic imaging market with somewhat low barriers to entry, pricing pressure, and a relatively high fixed-cost structure,” said S&P credit analyst Tulip Lim in a news release.

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