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Select Medical Corp. Senior Notes Assigned B-' Rating; Recovery Rating '6' May 12 Product Image

Select Medical Corp. Senior Notes Assigned B-' Rating; Recovery Rating '6' May 12

  • Published: May 2012
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) May 7, 2012--Standard & Poor's Ratings Services said today that it assigned ratings to the proposed $365 million senior notes due 2020 to be issued by Select Medical Corp. We rated the notes 'B-' (two notches lower than the 'B+' corporate credit rating on the company) with a recovery rating of '6', indicating our expectation of negligible (0% to 10%) recovery for lenders in the event of a payment default. The proceeds of this issue will refinance Select's outstanding subordinated notes due 2015. The corporate credit rating on Select is 'B+' and the rating outlook is stable. The rating reflects our assessment of the company's business risk profile as "weak" (according to our criteria) because...

Companies mentioned in this report are:
- Select Medical Corp.

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, READ MORE >

- Select Medical Corp.

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