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Recovery Report: Rural/Metro Corp.'s Recovery Rating Profile May 11 Product Image

Recovery Report: Rural/Metro Corp.'s Recovery Rating Profile May 11

  • ID: 1806704
  • May 2011
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services has assigned new recovery and issue-level ratings to Scottsdale, Ariz.-based ambulance and fire protection services company Rural/Metro Corp., in conjunction with Warburg Pincus' announced acquisition of the company. Our simulated default scenario contemplates a default in 2014, stemming from a combination of decreased reimbursement rates and nonrenewals of service contracts. We believe that the company would reorganize in the event of a default, given the prospects for continued demand for its services as an economical option to municipal and hospital-based alternatives. (For Standard & Poor's recovery rating methodology, see "Criteria Guidelines For Recovery Ratings-," published Aug. 10, 2009, on RatingsDirect on the Global Credit Portal.) Rural/Metro Corp. is the issuer of the senior secured credit...

Companies mentioned in this report are: Rural/Metro Corp.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

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Rural/Metro Corp.

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