S&P ups AMN loan

Standard & Poor's said it revised its issue-level and recovery ratings on AMN Healthcare's senior secured facilities as a result of the company's ability to reduce its senior secured term debt to $129.2 million as of June 30.

According to the agency, the senior secured credit facilities consist of a $75 million revolving credit facility and a $235 million term loan B facility with $129.2 million outstanding as of June 30.

The issue-level ratings were raised to BB, one notch higher than the BB- corporate credit rating on AMN Healthcare, from BB-, the agency said.

The recovery ratings on the senior secured debt were revised to 2 from 3, indicating that lenders could expect a substantial recovery in the event of a payment default, the agency noted.

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