S&P upgrades Concentra rating to BB on lower leverage
S&P Global Ratings upgraded Concentra Group Holdings (NYSE:CON) to BB from BB-, citing lower leverage and strong performance. The company's adjusted leverage fell below 3.5x in Q2, with projections improving to 3x by fiscal 2027. Concentra generated $250M in annual free operating cash flow and increased EBITDA by over $100M since fiscal 2024, driven by growth and cost controls. S&P maintained a stable outlook but noted potential downgrade risks.
