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Team Health's Rating Raised To 'BB-' From 'B+', Three Issue-Level Ratings Raised; Outlook Stable Dec 09
Standard & Poors, December 2009
Team Health Holdings Inc. has successfully completed its IPO, which generated net proceeds of approximately $146.5 million. The company announced its intention to repay approximately $136.9 million of the existing $203.0 million senior subordinated notes of its affiliate, Team Health Inc. (Team Health). We are raising the corporate credit rating on Team Health to 'BB-' from 'B+'. The stable rating outlook reflects our expectation that Team Health's improved capital structure will enhance its overall capacity to respond to continuing difficulties in the health care industry. NEW YORK (Standard & Poor's) Dec. 21, 2009--Standard & Poor's Ratings Services today raised its corporate credit rating on Team Health to 'BB-' from 'B+'. The rating outlook is stable. At the same time, we...
Companies mentioned in this report are: Team Health 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: News
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Team Health Inc.