Moody's gives Universal Health bonds B1

Moody's Investors Service said it assigned a Ba1 rating to Universal Health Services, Inc.'s new senior secured notes. There is no change to the Ba1 corporate family rating, Ba1-PD probability of default rating, and Ba1 senior secured ratings for UHS. There is also no change to the speculative grade liquidity rating of SGL-1.

The agency said it expects UHS will use the proceeds to fund the refinancing of roughly $700 million of secured bonds that come due in August 2022 and associated fees and add cash to the balance sheet.

The outlook is stable.

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