S&P pulls Surgery Partners from watch

S&P said it affirmed Surgery Partners Inc.’s B- issuer rating and removed all its ratings from CreditWatch with negative implications where it was placed on March 25.

“Surgery volume has recovered to near pre-Covid levels. Surgery Partners’ revenue declined significantly in the second quarter of 2020 amid widespread stay-at-home orders, the U.S. Surgeon General’s and other state and federal agencies’ recommendation that elective surgical procedures be postponed, and patient fear of visiting health care facilities. After reaching its trough in April, surgery volume has steadily recovered each month and now is near pre-Covid-19 levels,” S&P said in a press release.

The outlook is stable.

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