Envision Healthcare downgraded to junk rating by Moody’s

Moody’s Investors Service Inc. has issued a scathing corporate credit rating downgrade to Envision Healthcare Corp., assigning the physician staffing service and ambulatory surgery center operator its lowest possible junk rating and warning that a bankruptcy or major restructuring is likely on the horizon, Fierce Healthcare reports. The credit rating agency wrote in a Sept. 21 rating action that Envision will see weak liquidity over the next 12 to 18 months and is forecast to deplete its mid-year $1.4 billion cash reserves by the end of next year.