Standard & Poor's Ratings Services today assigned recovery ratings to Select Medical Corp.'s subordinated debt issue, while leaving the issue-level rating on this debt unchanged. The issue-level rating on Select's senior subordinated debt remains at 'CCC+' (two notches lower than the 'B' corporate credit rating on the company), and a recovery rating of '6' was assigned to this debt, indicating the expectation for negligible (0% to 10%) recovery in the event of a payment default. The issue-level rating on the senior unsecured debt of Select Medical Holdings Corp. (the parent holding company of Select Medical Corp.) also remains unchanged, at 'CCC+' (two notches lower than the corporate credit rating on the parent company), and a recovery rating of '6'. The...
Companies mentioned in this report are:
- Select Medical Corp.
- Select Medical Holdings Corp.
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Research Type: Full Analysis