09.03.2015 19:42:00
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CHS/Community Health Systems, Inc. -- Moody's rates Community's new term loan Ba2; B1 CFR unchanged; outlook is stable
New York, March 09, 2015 -- Moody's Investors Service assigned a Ba2 (LGD 2) rating to CHS/Community Health Systems, Inc.'s (Community) new $1.7 billion senior secured term loan due 2018. Moody's understands that the proceeds of the new term loan were used to refinance the company's existing term loan E due 2017. The maturity extension is modestly positive, but Community's existing ratings, including its B1 Corporate Family Rating and B1-PD Probability of Default Rating, are unchanged because the transaction does not meaningfully affect the company's leverage or cash flow. The stable rating outlook is also unchanged.