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S&P may cut HealthCare Partners
Standard & Poor's said it placed its BBB- counterparty credit rating on HealthCare Partners LLC on CreditWatch with negative implications following DaVita Inc.'s announcement that it has entered into an agreement to acquire HealthCare Partners.
The agency said the CreditWatch placement reflects HealthCare Partners' anticipated acquisition by a lower-rated entity, DaVita Inc., which likely will result in a downgrade of three notches.
"We will continue to monitor HCP's financial condition, as well as discuss HCP's capital structure and role within the acquiring firm with DaVita's management," said S&P credit analyst Hema Singh in a news release.
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