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S&P affirms MedImpact
S&P said it affirmed its B+ corporate credit rating on MedImpact Holdings Inc.
The outlook is stable.
The agency also affirmed the BB- issue-level rating on MedImpact's term loan. The recovery rating is 2, indicating an expectation for substantial (70%-90%; rounded estimate: 80%) recovery in the event of a payment default.
S&P said it affirmed the rating on the company despite worse-than-anticipated fundamental headwinds in the core health care subsidiary MedImpact OpCo Holdings Inc. because it expects revenue growth, including growth in the company's investment businesses, will allow the company to maintain funds from operations to debt in the high-20% range over the next few years.
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