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S&P ups Advanced Homecare outlook to positive
Standard & Poor's said it has revised its outlook on Advanced Homecare Holding Inc. to positive from stable.
At the same time, the agency said it affirmed its ratings on the company, including its B corporate credit, BB- senior secured and CCC+ secured ratings.
"Our outlook revision reflects Advanced Homecare's improved financial risk profile and its belief that, if the company's strong local market positions and growth prospects continue to achieve a good measure of success, it can absorb a modest rate cut without a significant erosion of its financial risk profile," said S&P credit analyst David Peknay.
The rating on Advanced Homecare reflects its operating concentration in the highly competitive home health care industry and its vulnerability to a decline in government reimbursement, the agency added.
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