Dallas-based home health, personal care, and hospice services provider Pluto Acquisition I Inc.'s (AccentCare Inc.) recently completed a debt restructuring involving the extension of debt maturities. We expect substantial margin and cash flow improvement in 2024 and 2025, supported by better business prospects and an aggressive, multifaceted cost-reduction program. As a result, we raised the issuer credit rating to 'B-' from 'SD' (selective default). At the same time, we assigned a 'B+' rating to the company's new super-priority facility and 'B-' rating to its first-lien facility. The stable outlook reflects our expectation for substantial operational improvement and for cash flow to continue to improve and remain positive (without the benefit of deferrable interest) in 2026. The stable outlook on Pluto
