S&P Upgrades Rating On Hanger Orthopedic
NEW YORK (AP) ¿ Standard & Poor's Ratings Services raised its corporate credit rating for Hanger Orthopedic Group Inc. Friday, citing earnings growth at the company and a reduction in debt leverage.
S&P raised the corporate credit rating to 'B+' From 'B,' both of which are highly speculative. The outlook remains stable, S&P said.
Hanger operates rehabilitation centers for people with braces or prosthetics.
Shares of Bethesda, Md.-based Hanger jumped 38 cents, or 2.7 percent, to close at $14.50. The stock has traded between $11.10 and $21 over the last 52 weeks."The stable outlook reflects our expectation that operations will continue to generate upper single digit growth and that the financial risk profile will remain aggressive," S&P said, in a statement.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV