Standard & Poor’s Rating Services (S&P) has raised its rating for Hanger Orthopedic Group, Bethesda, Maryland, to “B+” from “B.” S&P also raised the issue-level rating on Hanger’s senior secured debt to “BB-” from “B+” and senior unsecured debt to “B-” from “CCC+.” S&P has also given Hanger a “Stable” outlook.
“We are extremely pleased with the S&P upgrade, especially given the current economic environment,” remarked George McHenry, Hanger’s chief financial officer. McHenry added, “The upgrade reflects, among other things, our consistent performance over the last three years, solid liquidity, as well as no significant near-term debt maturities.”
