S&P cuts OnCure Medical, notes

Standard & Poor's said it lowered its B corporate credit rating on OnCure Medical Corp. to B-. The outlook remains stable.

The agency said it also lowered the issue-level rating on the company's second-lien notes to a B- from a B, in accordance with S&P's notching criteria. The 4 recovery rating on the notes is unchanged.

"These actions reflect financial performance below our expectations for 2011, and minimal forecasted improvements in leverage levels and cash flow over the next year," said S&P credit analyst John Bluemke in a news release.

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