Select Medical Corp. Corporate Credit Rating Raised To 'B+' From 'B' On Reduced Leverage; Outlook Stable Apr 12
- Language: English
- Published: April 2012
NEW YORK (Standard & Poor's) Jan. 18, 2005--Standard & Poor's Ratings Services said today that it lowered its corporate credit rating on Select Medical Corp. to 'B+' from 'BB-'. Standard & Poor's also assigned its 'BB-' rating and its recovery rating of '1' to Select Medical's $880 million proposed senior secured bank credit facility. Select Medical Corp. is a wholly owned subsidiary of EGL Holding Co. (Holdco). The facility is rated one notch above the company's corporate credit rating; this and the '1' recovery rating mean that lenders are likely to realize full recovery of principal in the event of a bankruptcy. At the same time, Standard & Poor's assigned its 'B-' rating to $660 million in senior subordinated notes...
Companies mentioned in this report are:
- Select Medical Corp.
Action: New Rating
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Research type: News
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