S&P revises WP CityMD Bidco view to positive

S&P said it revised the outlook for WP CityMD Bidco LLC to positive from stable.

The agency cited the proposed merger with Summit Medical Group as its basis for the revision. It expects the post-merger company will generate free cash flow commensurate with a B rating, S&P said in a press release.

S&P affirmed a B- rating on the combined entity and also assigned a B- rating and 3 recovery (50%-70% rounded estimate: 55%) rating to the company’s senior secured revolving credit facility and first-lien term loan.

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