S&P assigns OnCURE, notes B

Standard & Poor's said it assigned its B corporate credit rating to OnCURE Medical Corp.

The outlook is stable.

At the same time, the agency said it assigned its B debt issue rating and 4 recovery rating to OnCURE Holdings Inc.'s $210 million senior secured notes along with a recovery rating of 4.

According to S&P, proceeds from the $210 million senior secured notes will repay the outstanding term loan and subordinated debt.

"Our rating on OnCURE reflects its high debt leverage, a fragmented and competitive market, a modest revenue base with geographic and technology concentration, and reimbursement risk," said S&P credit analyst Cheryl Richer.

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