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CareMore Holdings Inc. Rated 'B'; Outlook Stable Jan 06
Standard & Poors, Jan 2006
Abstract
NEW YORK (Standard & Poor's) Jan. 20, 2006--Standard & Poor's Ratings Services said today that it assigned its 'B' counterparty credit rating to CareMore Holdings Inc. (CHI). Standard & Poor's also said that the outlook on CHI is stable. At the same time, Standard & Poor's assigned its 'B' bank loan rating and a recovery rating of '4' to CHI's proposed $125 million senior secured credit facility due in 2013 and $25 million revolving credit facility due in 2012, indicating the expectation for a marginal recovery of principal (25%-50%) in the event of a payment default. The bank loan ratings are based on preliminary documentation. 'The ratings are based on CareMore's established niche competitive position and good earnings profile/cash-flow capacity,'...
Companies mentioned in this report are: CareMore Holdings Inc.
Action: New Rating
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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