S&P downgrades Univita loan

Standard & Poor's said it lowered its corporate credit rating on Univita Health Inc. to B- from B and revised the outlook to negative from stable.

S&P also lowered the rating on the company's senior secured term loan to B- (the same as the corporate credit rating) from B. The 3 recovery rating on the company's senior secured term loan remains unchanged.

"The downgrade reflects weaker than expected EBITDA and covenant cushions that tightened to 10% in the quarter ended Dec. 31, 2012, resulting from ongoing expansion and integration challenges in the integrated health care (IHC) segment," S&P credit analyst David Kaplan said in a news release.

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