- Published: May 2012
- Region: United States
Research Update: CRC Health New Term Loan B Due 2015 Rated 'B' (Recovery Rating: 2); 'B-' Rating Outlook Revised To Positive Mar 12
- Published: March 2012
- Standard & Poors
Cupertino, Calif.-based specialized behavioral health organization CRC has refinanced its existing $81 million non-extended term loan B due in 2013 with a new term loan B of $87.6 million that will be due in 2015. This transaction eliminates near-term refinancing risk of the company's operating debt until 2015. We are assigning the new term loan B our issue-level rating of 'B' with a recovery rating of '2'. We are also affirming our 'B-' corporate credit rating on the company and revising the rating outlook to positive from stable. The positive outlook reflects our expectation of modest revenue growth, benefiting from an improved economy and new management. On March 2, 2012, Standard & Poor's Ratings Services assigned Cupertino, Calif.-based CRC Health...
Companies mentioned in this report are: CRC Health Corp.
Action: Outlook: Positive
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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.
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CRC Health Corp.