Moody's may downgrade HealthTronics

Moody's Investors Service said it placed HealthTronics Inc.'s Ba3 corporate family rating and senior secured credit facilities under review for possible downgrade following the company's announcement that its financial statements should be restated.

The review for possible downgrade follows the company's failure to file its 10-K report on a timely basis with no clear guidance as to when the financial statements will be filed. It is Moody's understanding that the company is considering the restatement of its financial statements for its 2001, 2002, 2003 and 2004 fiscal years as well as for the quarterly periods in 2004 and 2005.

The review also reflects the lack of an appointment of a permanent chief executive officer since the former incumbent resigned in October, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.