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Moody’s rates LifePoint Health notes B1
Moody’s Investors Service said it assigned a B1 rating to LifePoint Health, Inc.’s new $500 million of senior secured notes.
There is no effect on any of LifePoint’s ratings, including the B2 corporate family rating, B2-PD probability of default rating, B1 senior secured rating, and Caa1 senior unsecured rating, or the stable outlook, the agency said.
Proceeds from LifePoint’s notes and an $80 million FILO term loan, will be used to augment LifePoint’s liquidity as the ongoing spread of the coronavirus continues across the U.S., Moody’s said.
The company’s liquidity reflects its pro forma cash balance of $900 million as of Dec. 31 and largely available $800 million asset-based lending facility, the agency said.
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