Bulletin: Akumin Inc.'s Proposed $75 Million Senior Notes Add-On Is Leverage Neutral

NEW YORK (S&P Global Ratings) Feb. 8, 2021--S&P Global Ratings said today that Akumin Inc.'s proposed $75 million fungible add-on to its senior notes is leverage neutral and does not affect any of the ratings on the company, including issue-level ratings. We expect proceeds will be primarily used to fund growth-related activities including tuck-in acquisitions. Our 'B-' issuer credit rating and stable outlook on Akumin reflect our expectation that patient volume growth will steadily improve amid the ongoing COVID-19 pandemic, leading to low- to mid-single-digit percent organic growth over the next two years. We also expect the company to continue its acquisition strategy to increase market density, market share, and operating efficiencies.

...February 8, 2021 NEW YORK (S&P Global Ratings) Feb. 8, 2021--S&P Global Ratings said today that Akumin Inc.'s proposed $75 million fungible add-on to its senior notes is leverage neutral and does not affect any of the ratings on the company, including issue-level ratings. We expect proceeds will be primarily used to fund growth-related activities including tuck-in acquisitions. Our 'B-' issuer credit rating and stable outlook on Akumin reflect our expectation that patient volume growth will steadily improve amid the ongoing COVID-19 pandemic, leading to low- to mid-single-digit percent organic growth over the next two years. We also expect the company to continue its acquisition strategy to increase market density, market share, and operating efficiencies....

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