S&P revises Alliance HealthCare view to negative

S&P said it affirmed its B+ issuer credit rating on Alliance HealthCare Services and revised the outlook to negative from stable.

S&P also affirmed the B+ rating on the company's senior secured first-lien term loan and B- rating on its second-lien term loan.

The recovery rating on the first-lien debt is 3, indicating expectations for meaningful (50%-70%; rounded estimate: 60%) recovery in the event of a payment default.

The recovery rating on the second-lien debt is 6, indicating expectations for negligible (0%-10%: rounded estimate: 0%) recovery in a default.

“The outlook revision to negative follows several quarters of weaker-than-expected radiology volumes and slower integration of recent acquisitions leading to our revised base case,” S&P said in a news release.

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