S&P: Mariner on watch

Standard & Poor's said it placed its B+ corporate credit, BB- secured debt and B- subordinated debt ratings on Mariner Health Care Inc. on CreditWatch with negative implications.

S&P placed Mariner's BB- rated $90 million revolving credit facility, its BB- $135 million amortizing term loan B and its B- $175 million 8.25% senior subordinated notes on watch.

S&P said the watch placement follows the company's announcement of its pending acquisition by National Senior Care Inc. for $1 billion.

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