AdaptHealth Corp. Announces Upgraded S&P Global Issue-Level Rating on Senior Unsecured Debt
Nov 17, 2025
CONSHOHOCKEN, Pa. – November 17, 2025 - AdaptHealth Corp. (NASDAQ: AHCO) (“AdaptHealth” or the “Company”), a national leader in providing patient-centered, healthcare-at-home solutions including home medical equipment, medical supplies, and related services, announced today that S&P Global Ratings has recently upgraded its issue-level rating on the Company’s senior unsecured debt to ‘BB-’ from ‘B+’ and revised its recovery rating to ‘4’ from ‘5’. S&P Global Ratings highlighted that the upgrade follows $225 million of year-to-date prepayment of its senior secured term loan A due in 2029, which S&P said increases recovery prospects for AdaptHealth’s unsecured notes in the rating agency’s hypothetical default scenario.
“S&P Global Rating’s upgrade is an important recognition of the deliberate actions we are taking to strengthen our balance sheet, improve our risk profile, and increase our financial flexibility,” said Suzanne Foster, CEO of AdaptHealth. “Since the end of the third quarter of 2024, we have reduced the balance of our term loan A by $275 million, funded by our strong free cash flow generation and by proceeds from dispositions of non-core assets to sharpen our strategic focus. Debt reduction remains among our highest capital allocation priorities, as we believe a strong balance sheet is essential to unlocking and sustaining value for shareholders.”