Fitch assigns HCA notes BB

Fitch Ratings said it has assigned a rating of BB/RR1 to HCA Inc.'s proposed offering of $500 million in senior secured first-lien notes due 2019.

Fitch said it currently rates HCA as follows: issuer default rating B; secured bank credit facility BB/RR1; senior unsecured notes CCC+/RR6; and second-lien notes B+/RR3.

The outlook is stable.

Fitch added that it expects the proceeds of the debt offering to be used to reduce outstanding indebtedness under the company's secured term loan facilities. One of Fitch's key concerns regarding the credit is the large amount of debt maturing between 2010 and 2013, including about $12 billion in secured term loan borrowings that mature in 2012 and 2013.

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