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S&P puts Acadia Healthcare on positive watch
S&P said it placed all its Acadia Healthcare Co. Inc. ratings on CreditWatch with positive implications.
The placement follows Acadia’s Thursday announcement it agreed to sell its U.K. operations for about $1.35 billion to Waterland Private Equity, the agency said.
After the transaction and pro forma for the sale, S&P said it forecasts adjusted leverage will be below 5x in 2021 and 2022.
“At transaction close, we would likely upgrade Acadia to B+ from B based on our expectation that the company will use the proceeds from the sale of the business to repay debt, and we expect the reduction in leverage to be permanent,” S&P said in a press release.
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