The company has delevered to levels more appropriate for the CFR, and in this transaction it is incorporating preferred equity that helps subdue the acquisition's leveraging impact.The slowdown in 2020 notwithstanding, Cotiviti has realized revenue growth in recent years that has exceeded the PI market's mid-single digit revenue growth. Moody's expects the company to again exceed overall industry growth over the next 12 to 18 months, given the strength of its offerings, customer relationships, and market position. Industry tailwinds include favorable demographics, the need to contain rising healthcare spend, increasing regulatory complexity, and eligibility expansion of Medicaid and Medicare.A healthy and quickly building cash balance, to over $200 million in 2021, and no drawings under Cotiviti's $300 million revolver through all of 2020 and, Moody's expects, through 2021 as well, underscore the company's adequate and improving liquidity position.