Officials from Hanger Orthopedic Group Inc. have announced that Standard & Poor’s (S&P) Rating Services has revised its outlook for Hanger Orthopedic Group Inc. to “stable” from “negative.” S&P also affirmed Hanger’s corporate credit ratings at “B.”
“The outlook revision reflects improvements in the reimbursement environment for Hanger’s services in 2007, the company’s ability to stabilize its operating cash flow in 2006, and our belief that Hanger’s performance in 2007 should be at least as good as it was in 2006,” explained Jesse Juliano, credit analyst for Standard & Poor.
“We are pleased with the outlook change from S&P as it is a reflection of our improved performance in 2006 and the more positive industry environment we are seeing today,” said George McHenry, Hanger’s chief financial officer.
