Moody's gives Surgery Center loans B1

Moody's Investors Service said it assigned a B1 rating to Surgery Center Holdings, Inc.'s proposed $335 million senior secured credit facilities, consisting of a $30 million revolver expiring in 2018 and a $305 million first-lien term loan due 2019.

In addition, Moody's assigned a Caa2 rating to the proposed $130 million senior secured second-lien term loan due 2020.

Surgery Partner's B3 corporate family rating and B3-PD probability of default rating were affirmed.

The outlook is stable.

Proceeds from the new credit facilities will be used to refinance existing debt, pay a $135 million special dividend to shareholders and cover transaction fees and expenses associated with the refinancing.

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