Insight, analysis & opinion from Joe Paduda

< Back to Home

Feb
15

The week that was…

Couple quick items from the week that was.

Heard from WCRI that they are close to capacity for the annual confab. If you haven’t registered, you’d best do so now here.

Rating firm Moody’s released an announcement regarding OneCall Corp.’s recent debt offering.[link accessible for registered users; registration is free]. This follows OneCall’s announcement last week that it would be offering to exchange new debt for existing debt.

Moody’s announcement indicates it is “likely” the debt exchange will be viewed as a “distressed exchange”; there is no change to ratings at this time.

S&P released a note indicating it lowered it’s long-term issuer credit rating for One Call Corp to ‘CC’ from ‘CCC+'[free registration required].

From S&P – “An obligor rated ‘CC’ is currently highly vulnerable. The ‘CC’ rating is used when a default has not yet occurred but S&P Global Ratings expects default to be a virtual certainty, regardless of the anticipated time to default.”

New CEO Rone Baldwin released a letter to all earlier this week.


2 thoughts on “The week that was…”

Comments are closed.

Joe Paduda is the principal of Health Strategy Associates

SUBSCRIBE BY EMAIL

SEARCH THIS SITE

A national consulting firm specializing in managed care for workers’ compensation, group health and auto, and health care cost containment. We serve insurers, employers and health care providers.

 

DISCLAIMER

© Joe Paduda 2024. We encourage links to any material on this page. Fair use excerpts of material written by Joe Paduda may be used with attribution to Joe Paduda, Managed Care Matters.

Note: Some material on this page may be excerpted from other sources. In such cases, copyright is retained by the respective authors of those sources.

ARCHIVES

Archives