S&P acts on health care businesses

S&P said it reviewed its recovery and issue-level ratings in the U.S. health care business and consumer services sector for speculative-grade corporate issuers that were labeled as "under criteria observation" (UCO) after publishing its revised recovery ratings criteria on Dec. 7.

With its criteria review complete, the agency removed the UCO designation from these ratings and revised issue-level and recovery ratings as appropriate.

These actions stem solely from the application of S&P’s revised recovery criteria and do not reflect any change in its assessment of the corporate credit ratings for issuers of the affected debt issues.

Explorer Holdings Inc.’s and Goldcup Merger Sub Inc.’s subordinated ratings were upgraded to B- from CCC+ with the recovery ratings revised to 5L from 6.

Air Medical Group Holdings Inc.’s senior secured rating was affirmed at B with the recovery rating revised to 3L from 4H.

CHG Healthcare Services Inc.’s senior secured rating was affirmed at B with the recovery rating revised to 3H from 4H.

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