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Brickwork assigns rating of 'BBB+/Stable' on KMC Speciality Hospitals (India) credit facilities

The Stable outlook indicates a low likelihood of rating change over the medium term.

December 06, 2021 12:14 IST | India Infoline News Service
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Brickwork Ratings reaffirms/assigns rating for the Bank Loan Facilities at 'BWR BBB+/Stable' worth Rs97.40cr of KMC Speciality Hospitals (India) Limited

The reaffirmation of the bank loan rating of KMC Speciality Hospitals (India) Limited continues to draw comfort from the established market position of the hospital. The rating also takes into account the strengths derived from it being a part of the Kauvery Hospitals group in the form of a subsidiary of Sri Kauvery Medical Care (India) Limited (SKMC) (BWR A/Positive).

The Stable outlook indicates a low likelihood of rating change over the medium term.

BWR believes that KMC Speciality Hospitals (India) Limited’s business risk profile will be maintained over the medium term. The outlook may be revised to Positive if there is a sustained increase in the scale of operations and Average Revenue per Occupied Bed (ARPOB), along with stable margins and improved geographical diversification resulting in an improved financial risk profile.

Further, the rating agency said the outlook may be revised to Negative in the case of time and cost overruns with respect to the present capex plan, a deterioration in the capital structure due to debt-financed capital expenditure and decline in the ARPOB and profitability, thus weakening the company’s financial risk profile.

On Monday, at around 12:16 PM, KMC Speciality Hospitals (India) was trading at Rs62.10 apiece down by Rs0.4 or 0.64% on Sensex.

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