S&P: Global Healthcare loan B

Standard & Poor's said it assigned a B corporate credit rating to Global Healthcare Exchange LLC.

The agency also said it assigned a B rating and 3 recovery rating to Global Healthcare's proposed senior secured credit facility. The 3 recovery rating reflects 50% to 70% expected default recovery.

The outlook is stable.

The ratings reflect Global Healthcare’s high degree of recurring revenue and customer retention, S&P said.

Despite these strengths, the company has a narrow operating focus, competition from other health care IT and IT-related companies and exposure to the uncertain nature of contract renewals, the agency said.

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