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S&P ups AMN Healthcare outlook to stable
Standard & Poor's said it revised its rating outlook on AMN Healthcare Inc. to stable from negative.
Ratings on the company, including the BB- corporate credit rating, were affirmed, the agency said, noting that the outlook change reflects AMN's successful integration of the MHA acquisition, strong operating performance in 2006 with an expectation of continued strength, improving supply trends in its travel nurse staffing segment and a proven willingness and ability to reduce debt.
The agency said that the rating on AMN, a subsidiary of AMN Healthcare Services Inc., reflects the company's operating concentration in the highly competitive health care staffing industry, the variable demand for outsourced labor from hospital clients, the variable supply of travel nurses and the company's debt burden.
These concerns are partially mitigated by favorable long-term demand for temporary nurses and doctors, the company's position as an industry leader, its stable and growing business of temporary physician staffing and the company's proven ability and willingness to reduce its outstanding debt, the agency added.
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