S&P raises Envision Healthcare

S&P said it boosted Envision Healthcare Corp.’s ratings a notch, including the issuer credit rating to CCC+ from CCC.

“We expect patient volumes, revenue, and adjusted EBITDA generation will gradually improve over the next year but remain 10%-15% lower than 2019. This incorporates our estimate of the effects of Envision being moved out of network by UnitedHealthcare this year and recent contract losses,” S&P said in a press release.

“While we still consider the capital structure unsustainable over the long-term, we do not believe the company would consider a distressed exchange offer within the next 12 months. We estimate Envision has enough liquidity to manage through the next 12 months,” the agency added.

The outlook is negative.

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