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S&P ups, rates Option Care loans BB-, notes B-
S&P said it upgraded Option Care Health Inc.’s issuer rating to B+ from B and assigned BB- issue and 2 recovery ratings to its planned senior secured loans and B- issue and 6 recovery ratings to its planned senior unsecured notes.
“We expect credit metrics to improve over the next couple of years, stemming primarily from positive organic revenue growth and steady EBITDA margins. We believe Option Care Health is committed to reducing net leverage (per management's calculation) to below 4x by the end of 2021, which further supports our expectation that adjusted debt to EBITDA will remain below 5x,” the agency said in a press release.
The outlook is stable.
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