Research Update: Alliance HealthCare's $590M Secured Credit Facility Rated 'BB-' (Recovery Rating: 3); Rating Outlook Revised To Negative Jun 11
Standard & Poors, June 2011
Abstract
U.S. diagnostic imaging and radiation oncology services company Alliance HealthCare is refinancing its credit facility. We are assigning the proposed $590 million senior secured loan our 'BB-' issue-level rating with a recovery rating of '3'. At the same time, we are revising our rating outlook on the company to negative from stable, while affirming the 'BB-' corporate credit rating. Our negative outlook reflects the potential for a continued downward slide in profitability. On June 16, 2011, Standard & Poor's Ratings Services assigned ratings to Newport Beach, Calif.-based Alliance HealthCare Services proposed $590 million senior secured credit facilities, consisting of a $470 million term loan B due 2018 and a $120 million revolving credit facility due 2016. We rated the facilities...
Companies mentioned in this report are: Alliance HealthCare Services
Action: Affirmed
Action: New Rating
Action: Outlook: Negative
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Alliance HealthCare Services
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