New York, May 01, 2014 -- Moody's Investors Service downgraded the ratings of LifePoint Hospitals, Inc.'s existing senior secured credit facilities and senior unsecured notes, both to Ba2 from Ba1. Moody's also affirmed LifePoint's Ba2 Corporate Family Rating and Ba2-PD Probability of Default Rating. The rating outlook is stable. The actions follow LifePoint's proposed $400 million add-on to the company's 5.5% senior unsecured notes due 2021. Moody's understands that the proceeds of the new notes will be used, along with cash on hand, for general corporate purposes, including the upcoming maturity of $575 million in convertible subordinated notes.
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