TEXT-S&P: Acadia Healthcare ratings unaffected by Timberline deal
Sept 4 - Standard & Poor's Ratings Services said today that its rating on U.S behavioral health care provider Acadia Healthcare Inc. (B/Stable/--) is unaffected by the company's cash acquisition of Illinois-based Timberline Knolls, an inpatient behavioral health care facility, for approximately $90 million. The company had about $120 million of cash as of June 2012, funds we believe were to be used to fund its growth strategy. We continue to believe Acadia will maintain its aggressive growth strategy over the near term and will continue to operate with a "highly leveraged" financial risk profile. Our "weak" business risk profile continues to reflect its ambitious growth plan and narrow focus.
- Target stores' customers hit by major credit card attack
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Facebook, Zuckerberg, banks must face IPO lawsuit: judge
- U.S. prosecutor defends treatment of Indian diplomat |
- Fed cuts bond buying in first step away from historic stimulus |