Moody's assigns Baa3 to HCA notes

Moody's Investors Service said it assigned a Baa3 rating to HCA Inc.'s new senior secured notes. HCA Inc. is a wholly own subsidiary of HCA Healthcare, Inc.

HCA Healthcare, Inc.'s existing ratings, including its Ba1 corporate family rating, Ba1-PD probability of default rating, and SGL-1 speculative grade liquidity rating are unchanged. Moody's also noted there are no changes to HCA Inc.'s Baa1 rating on its asset-based lending revolver, Baa3 senior secured ratings and Ba2 senior unsecured ratings.

HCA is expected to use the proceeds, cash and concurrent credit-agreement transactions to repay all or a portion of its $1.455 billion senior secured term loan B-12 facility and $1.131 billion senior secured term loan B-13 facility and for general corporate purposes.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.