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S&P: HealthCare Partners view positive
Standard & Poor's said it revised the outlook on HealthCare Partners LLC to positive from stable and affirmed its BB+ counterparty credit rating with 2 recovery ratings.
"We revised the outlook to positive because of HealthCare's growing market scale, improving financial condition and strengthening competitive position," S&P analyst Joseph Marinucci said in a statement.
The rating reflects HealthCare's established competitive presence in its core Southern California market, strong profitability and cash-flow generation relative to peers, and relatively modest financial leverage, the agency said.
Offsetting factors include client and geographic concentrations, risks related to its acquisition-based growth strategy and significant but diminishing level of intangibles relative to shareholders' equity, S&P noted.
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