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Moody's rates Surgery Center notes Caa1
Moody's Ratings said it assigned a Caa1 rating to Surgery Center Holdings, Inc.'s $600 million offering of senior unsecured notes due 2032.
There is no change to the company's B2 corporate family rating, B2-PD probability of default rating, Ba3 ratings on the senior secured first-lien bank credit facility and Caa1 ratings on the senior unsecured notes, Moody’s said. The company's SGL-1 speculative grade liquidity rating is also unchanged.
The company intends to use the proceeds to pay off the outstanding amount of senior unsecured notes maturing in 2025 and 2027 and for general corporate purposes, which includes potential acquisitions.
The outlook remains unchanged at stable.
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