Moody’s Investors Service has raised its rating on Hanger Orthopedic Group, Bethesda, Maryland, to “B1” from “B2.” Moody’s also raised the issue-level rating on Hanger’s senior secured debt to “Ba2” from “Ba3” and senior unsecured debt to “B3” from “Caa1.” Moody’s has also listed Hanger’s outlook as “Stable.”
“We are extremely pleased with the Moody’s upgrade, especially given the recent economic environment,” remarked George McHenry, Hanger’s chief financial officer. McHenry added, “The upgrade reflects, among other things, our consistent growth over the last three years, solid cash flow, and sound capital structure.”