New York, September 04, 2014 -- Moody's Investors Service assigned a Ba3 (LGD 4) rating to HealthSouth Corporation's (HealthSouth) proposed offering of $175 million of senior unsecured notes due 2024. Moody's understands that the proceeds of the offering, which is an add-on to the company's existing 5.75% senior notes due 2024, along with amounts available under the company's revolver will be used to fund the redemption of the remaining outstanding amount of 7.25% notes due 2018. HealthSouth's Corporate Family and Probability of Default Ratings of Ba3 remain unchanged given Moody's expectation that credit metrics will not be meaningfully impacted by this transaction. The stable rating outlook is also unchanged.

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