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S&P: AMN Healthcare loan BB-
Standard & Poor's said it affirmed the B+ corporate credit rating on AMN Healthcare Inc.
The agency also said it assigned a BB- rating to the company's $200 million term loan B and $50 million revolver. The recovery rating on the new credit facility is 2, indicating 70% to 90% expected recovery in a default.
The outlook is stable.
The ratings on AMN, a subsidiary of AMN Healthcare Services Inc., reflect a weak business risk profile and an aggressive financial risk profile, S&P said.
The agency said it views the company as having an operating concentration in the highly competitive and cyclical health care staffing industry, the agency said.
The ratings also reflect credit measures that can vary widely through a cycle, S&P said.
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