Moody’s assigns HCA notes Ba1

Moody's Investors Service said it assigned a Ba1 rating to the proposed secured notes offering of HCA, Inc. a subsidiary of HCA Healthcare, Inc. (formerly HCA Holdings, Inc.).

The agency also revised HCA's outlook to positive from stable and upgraded the speculative grade liquidity rating to SGL-1 from SGL-2.

Moody's affirmed all other existing ratings, including the Ba2 corporate family rating and Ba2-PD probability of default rating.

Proceeds will be used for general corporate purposes, including the funding of acquisitions and refinancing of existing debt.

Moody’s said the positive outlook reflects its expectation that HCA will continue to grow earnings such that leverage will decline below 4 times over the next 12 to 18 months.

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