DBRS Discontinues Centric Health’s Ratings

DBRS Limited (DBRS) has today discontinued the Issuer Rating and Senior Secured 2nd Lien Notes (the Notes) ratings of Centric Health Corporation (Centric or the Company). The ratings are being discontinued at the request of the Company prior to resolving the Under Review with Developing Implications status because DBRS did not have sufficient information regarding the Company’s ongoing business and financial management intentions.

On February 23, 2016, Centric announced that it had repurchased 86.4% of the total value of its outstanding Notes. In addition, the Company amended (with necessary approval of Noteholders) the Indenture to provide additional flexibility to operate its business and manage its financial policy. At the same time, Centric announced that it has discontinued its engagement with DBRS for the rating on the Notes.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

The applicable methodologies are Rating Companies in the Services Industry and DBRS Recovery Ratings for Non-Investment Grade Corporate Issuers, which can be found on our website under Methodologies.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.