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Summary: National Mentor Inc. Dec 10 Product Image

Summary: National Mentor Inc. Dec 10

  • Published: December 2010
  • Standard & Poors

Abstract
The ratings on Boston-based National Mentor Inc. reflect the company's significant exposure to reimbursement risk, fairly thin operating margins, and limited ability to reduce financial leverage through debt reduction given its emphasis on acquisitions. In addition, the rating also reflects major challenges to refinance in 2012 when an upcoming $98 million applicable high-yield discount obligation (AHYDO) payment on its holding company notes is due. National Mentor's vulnerable business risk profile is highlighted by the fact that over 90% of its revenues are largely from state and local agencies, mostly Medicaid. Consequently, the company faces uncertain reimbursement for its services; where the company derives about two-thirds of its revenues from providing services for individuals with intellectual and developmental disabilities and the...

Companies mentioned in this report are: National Mentor Holdings Inc
Action: Review

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National Mentor Holdings Inc

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