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Moody's assigns Baa3 to HCA notes
Moody's Investors Service said it assigned a Baa3 rating to HCA Inc.'s new senior secured notes. HCA Inc. is a wholly own subsidiary of HCA Healthcare, Inc.
HCA Healthcare, Inc.'s existing ratings, including its Ba1 corporate family rating, Ba1-PD probability of default rating, and SGL-1 speculative grade liquidity rating are unchanged. Moody's also noted there are no changes to HCA Inc.'s Baa1 rating on its asset-based lending revolver, Baa3 senior secured ratings and Ba2 senior unsecured ratings.
HCA is expected to use the proceeds, cash and concurrent credit-agreement transactions to repay all or a portion of its $1.455 billion senior secured term loan B-12 facility and $1.131 billion senior secured term loan B-13 facility and for general corporate purposes.
The outlook is stable.
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