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S&P cuts Healthways loans to BB
Standard & Poor's said it affirmed the BB counterparty credit rating on Healthways Inc. and lowered its senior secured credit facilities to BB from BB+ and revised the recovery rating to 3.
The outlook remains stable.
"The affirmation of the counterparty credit rating reflects the company's established market position in its industry segment, good earnings profile and good financial flexibility," S&P analyst Joseph Marinucci said in a statement.
"Offsetting factors include its narrow business scope, client concentrations and marginal balance-sheet quality," the analyst added.
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