Moody's eyes Kindred Healthcare for trim

Moody's Investors Service said it placed Kindred Healthcare LLC’s ratings on review for downgrade following its proposed acquisition by LifePoint Health, Inc.

The ratings placed under review for downgrade include the B2 corporate family rating, the B2-PD probability of default rating and the B3 senior secured rating. The outlook was revised to under review from stable.

On Monday, LifePoint reported its planned acquisition of Kindred for an undisclosed sum. No further details are available concerning the updated capital structure.

The review will focus on the combined firm's larger scale, diversified service offering and opportunities for synergies. Analysts will also consider the growth and financial profile following the transaction, including capital structure, financial leverage financial policies and liquidity, Moody’s said.

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