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Moody’s lowers HC Group
Moody's Investors Service said it downgraded to B3 from B2 the corporate family rating of HC Group Inc.
The outlook is stable.
"The downgrade reflects our concern that the fast growth in HC's principal-model transaction business will heighten risk and reduce profit margins, which is a significant departure from our earlier expectations," Lina Choi, Moody's vice president and senior credit officer, said in a news release.
"The company's much decreased level of profitability, weakened EBITDA generation, and increased leverage have also reduced the company's financial buffer for weathering potential market volatility.”
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