S&P cuts Curative Health debt to CCC+

Standard & Poor's said it lowered its ratings on Curative Health Services Inc. The corporate credit rating was lowered to B- from B and the senior unsecured debt rating was lowered to CCC+ from B-.

In addition, the ratings were removed from CreditWatch negative, where they were placed on Feb. 28 because of S&P's concerns about the company's liquidity.

S&P said Curative faces large semiannual interest payments in May and November and by comparison has limited cash flow and credit facility availability. The outlook is now negative.

The downgrade reflects S&P's belief that Curative's liquidity prospects are characteristic of a weaker credit.

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