S&P places Auna on watch

S&P said it placed Auna SAA’s B+ ratings on CreditWatch with negative implications.

The negative watch placement follows Auna reporting it acquired controlling stakes in IMAT SAS and Oncomedica SA, both not rated, and plans to buy Organizacion Clinica America in Mexico, the agency said.

“As of March 31, 2022, our adjusted leverage for Auna was above our current 5x rating threshold. Although the company has said that the transactions will improve its operating and financial performance, including margins and leverage position, it hasn't yet publicly disclosed any details of the acquisitions' price or how it will fund them,” the agency said in a press release.

S&P said it aims to resolve the negative watch once it has assessed the acquisitions, the planned purchase of Organizacion Clinica America and their effects on liquidity, capital structure, gross leverage and business profile.

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