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S&P rates ScribeAmerica, facility B
S&P said it assigned its B corporate credit rating to ScribeAmerica Intermediate Holdco LLC.
The outlook is stable.
At the same time, the agency assigned its B issue-level rating to the company's senior secured credit facility, consisting of a $20 million revolver and $250 million term loan. The 3 recovery rating indicates an expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of payment default.
“Our rating reflects the risks associated with the company's operations in a highly fragmented market with dozens of regional and local participants and the threat of new entrants as well as health care providers insourcing given the relatively low barriers to entry,” S&P said in a news release.
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