S&P lowers Surgery Center

Standard & Poor's said it lowered its corporate credit rating on Surgery Center Holdings Inc. to B from B+. The outlook is stable.

At the same time, the agency said it lowered the senior secured issue-level rating to B from B+. The recovery rating remains 3.

"The speculative-grade ratings on Surgery Center Holdings reflect our expectation that it will contend with tight bank loan covenants," said S&P credit analyst Rivka Gertzulin in a news release, "because of lower-than-expected surgical volume this year and the effects of lower reimbursement from a large commercial payor in its largest market."

© 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.