Moody's may cut Symbion Health

Moody's Investors Service said it placed the Ba1 issuer rating of Symbion Health Ltd. on review for possible downgrade.

The action follows the company's announcement that it has received an ownership proposal from a consortium comprising Healthscope Ltd. (unrated) and private equity investors, Moody's said.

The downgrade review reflects the material uncertainty regarding the future financial and operating profile of Symbion and the consolidated entity, should the proposal proceed, the agency said.

The review will focus on the likely asset composition and financial profile of the merged group, along with the potential for the divestment of Symbion's pharmacy and consumer businesses to private equity investors, Moody's said.

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