S&P: Universal Hospital Services affirmed

Standard & Poor's said it affirmed it's the B+ corporate credit rating and BB- bank loan rating on Universal Hospital Services Inc.'s proposed $125 million senior secured revolving credit facility, which has been amended and restated.

At the same time, a recovery rating of 1 was assigned to the loan, indicating a high expectation for full recovery of principal in the event of a payment default, S&P said.

The agency also said it affirmed its B- rating of the company's senior unsecured debt.

The ratings reflect the company's dependence on its narrow but relatively predictable business of providing supplemental and outsourced movable medical equipment to hospitals, in addition to its heavy debt burden, the agency said.

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