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Moody's ups Skilled Healthcare
Moody's Investors Service said it upgraded the corporate family rating of Skilled Healthcare Group, Inc. to B1 and affirmed the B2 probability of default rating.
Moody's also said it affirmed the B1 rating on the company's term loan that is proposed to be upsized by $100 million to $442 million from $342 million.
The B1 rating of the $100 million revolving credit facility also was affirmed and the speculative grade liquidity rating was upgraded to SGL-2 from SGL-3.
The outlook is stable.
The upgrade reflects Skilled Healthcare's ability to maneuver around the difficult operating environment and continue to produce industry leading EBITDA margins while demonstrating prudent cost management and increased focus on operational efficiencies, all of which are a key to the company's current and future operating performance, Moody's said.
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