Wellpath Holdings Cut to CCC By S&P; Outlook Negative

Wellpath Holdings issuer credit rating was cut to CCC from CCC+ by S&P.

• Also lowered issue-level rating on its first-lien term loan to ‘CCC’ from ‘CCC+’, and issue-level rating on its second-lien term loan to ‘CC’ from ‘CCC-’
• “Given the near-term maturities, high leverage, cash flow pressures, relatively weak financial performance, low trading levels, and no public refinancing plan, we believe there is increased risk of a debt restructuring, including distressed exchanges, in the coming months”

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