S&P rates FC Compassus facilities B

S&P said it assigned a B rating with a 3 recovery rating to FC Compassus’ senior secured credit facilities, consisting of a revolver and term loan B.

S&P also assigned a B rating to the company.

“Our rating reflects Compassus’ small scale, the narrow focus on hospice services, the fragmented and intensely competitive nature of the hospice sector; the company’s limited history of generating material free cash flow, and aggressive pro forma debt leverage, in the 4x-5x range for 2019,” said S&P in a press release.

The outlook is stable.

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