...- Peruvian private healthcare service provider Auna S.A.A.'s (Auna) business performance is normalizing as the impact of the COVID-19 pandemic eases. Pent-up demand is increasing occupancy rates across the company's healthcare service networks, and the number of affiliates at its Oncosalud segment is returning to pre-pandemic levels. - We expect Auna's profit margins and gross leverage will continue to improve toward 15% and below 5.0x, respectively, by year-end 2022 due to a return to more normal business conditions, the consolidation of its Portoazul clinic, and several expansion projects that will add more capacity to the company's network in the next few quarters. - On Nov. 26, 2021, S&P Global Ratings affirmed its 'B+' long-term issuer credit and issue-level ratings on Auna. - The stable outlook reflects our expectation that Auna's gross leverage will return below 5.0x by year-end 2022, spurred by better business conditions, its growth strategy, and profit margin improvement; and the...
