Recovery Report: American Renal Holdings Inc.'s Recovery Rating Profile Aug 11
Standard & Poors, August 2011
Abstract
Standard & Poor's Ratings Services is reviewing its recovery and issue-level debt ratings on American Renal Holdings Inc. and its parent, American Renal Associates Holdings Inc. (HoldCo). There are no changes to the issue-level and recovery ratings. We envision a default in 2014, resulting from a decline in third-party reimbursement rates. We believe that the company would reorganize in the event of a default, given its strategically located clinics and the continued demand for dialysis services The borrower of the senior secured credit facilities is American Renal Holdings Inc. (ARH), which is the holding company for the operating subsidiary, American Renal Associates LLC. The company operates through a joint-venture business model in which American Renal Associates LLC is the majority...
Companies mentioned in this report are:
- American Renal Holdings Inc.
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
- American Renal Holdings Inc.
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