S&P: Alliance HealthCare to negative

S&P said it affirmed its B+ corporate credit rating and senior secured debt ratings on Alliance HealthCare Services Inc. and revised the outlook to negative from stable.

The recovery rating on the senior secured debt is 3, indicating expectations for meaningful (50%-70%; at the low end of the scale) recovery in a payment default.

"The outlook revision to negative follows two quarters of weaker-than-expected operating performance and risks to our new base case given continued pricing pressures," S&P credit analyst Matthew O'Neill said in a news release.

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