BETHESDA, Md., June 22 /PRNewswire-FirstCall/ -- Hanger Orthopedic Group, Inc. (NYSE: HGR) is pleased to announce that Standard & Poor's Rating Services raised its rating on Hanger Orthopedic Group, Inc. to "B+" from "B." S&P also raised the issue level rating on Hanger's senior secured debt to "BB-" from "B+" and senior unsecured debt to "B-" from "CCC+." S&P has also given Hanger a "Stable" outlook.
"We are extremely pleased with the S&P upgrade especially given the current economic environment," remarked George McHenry, Hanger's Chief Financial Officer. Mr. McHenry added, "The upgrade reflects, among other things, our consistent performance over the last three years, solid liquidity as well as no significant near-term debt maturities."
Hanger Orthopedic Group, Inc., headquartered in Bethesda, Maryland, is the world's premier provider of orthotic and prosthetic patient care services. Hanger is the market leader in the United States, owning and operating 675 patient care centers in 45 states and the District of Columbia, with over 3,500 employees, including 1,083 practitioners (as of March 31, 2009). Hanger is organized into four units. The two key operating units are patient care which consists of nationwide orthotic and prosthetic practice centers and distribution which consists of distribution centers managing the supply chain of orthotic and prosthetic componentry to Hanger and third party patient care centers. The third is Linkia which is the first and leading provider network management company for the orthotics and prosthetics industry. The fourth unit, Innovative Neurotronics, introduces emerging neuromuscular technologies developed through independent research in a collaborative effort with industry suppliers worldwide. For more information on Innovative Neurotronics, Inc. or the WalkAide, visit http://www.ininc.us. For more information on Hanger, visit http://www.hanger.com.
|SOURCE Hanger Orthopedic Group, Inc.|
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