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Moody’s gives LifePoint notes Ba2
Moody's Investors Service said it assigned a Ba2 rating to $300 million of proposed senior unsecured notes being offered by LifePoint Health, Inc.
The outlook is stable.
The company intends to use proceeds to fund acquisitions and for general corporate purposes, including the repurchase of common stock.
Moody's estimates that pro-forma leverage will increase to about 3.7 times initially. Therefore, LifePoint's existing ratings, including the Ba2 corporate family rating and the Ba2-PD probability of default rating, remain unchanged.
LifePoint's Ba2 corporate family rating reflects the agency’s expectation that the company's financial leverage will remain moderately high in the near-term.
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