Moody's rates Steward loan B2

Moody's Investors Service said it assigned a B3 corporate family rating and a B3-PD probability of default rating to Steward Health Care System LLC.

Moody's also assigned a B2 (LGD 3, 34%) rating to Steward's proposed $250 million senior secured term loan due 2020.

Proceeds of the term loan will be used to repay amounts outstanding under the company's asset based revolver and for general corporate purposes.

The outlook is positive.

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