S&P boosts Skilled Healthcare

Standard & Poor's said it raised Skilled Healthcare Group Inc.'s corporate credit rating to B from CCC and its senior secured rating to B+ from CCC+. The recovery rating remains 2.

The agency raised the rating on Skilled Healthcare's subordinated debt to CCC+ from CC. The recovery rating remains 6, indicating expectation for 0% to 10% recovery.

The outlook is stable. All ratings were removed from CreditWatch with developing implications.

"The rating actions reflect our opinion regarding the settlement of a lawsuit against the company that eliminated the overhang regarding the risks to the future survival of the company as a result of the original $671 million jury verdict," S&P analyst David Peknay said in a statement.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.