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S&P rates Healthways, loan BB
Standard & Poor's said it assigned its BB corporate credit rating to Healthways Inc.
The outlook is stable.
At the same time, the agency said it assigned its BB loan rating to the company's proposed $400 million senior secured revolving credit facility due in 2011 with a recovery rating of 3.
S&P added that the speculative-grade rating on Healthways reflects the company's narrow business focus, surmountable barriers to competitive entry and revenue and channel concentration, noting that these risks are partially offset by the strong demand for Healthways' services, the positive momentum in the disease management business and the company's conservative financial profile.
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