Research Update: MultiPlan Inc. 'B+' Rating Placed On CreditWatch Negative Following Acquisition Announcement Aug 06
- ID: 1869763
- August 2006
- Standard & Poors
On Aug. 31, 2006, Standard & Poor's Ratings Services placed its 'B+' counterparty credit rating on MultiPlan Inc. on CreditWatch with negative implications. The rating action follows today's announcement that MultiPlan will acquire Private Healthcare Systems, which is the largest proprietary primary PPO network in the U.S. as well as the second-largest independent care management provider. The rating was placed on CreditWatch to reflect Standard & Poor's concern about MultiPlan's capacity to support the increased financial burden and its ability to manage effectively the integration risks associated with this material acquisition. Standard & Poor's will meet with MultiPlan and its financial representatives to discuss prospective capital structure and business plans. Following our review, the rating could be lowered by one...
Companies mentioned in this report are: MultiPlan Inc.
Action: On CreditWatch: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.
SHOW LESS READ MORE >