Team Health, Inc. -- Moody's downgrades Team Health's CFR to Ba3 from Ba2; outlook negative

New York, November 09, 2015 -- Moody's Investors Service downgraded Team Health, Inc.'s ("Team Health") Corporate Family Rating to Ba3 from Ba2 and Probability of Default Rating to Ba3-PD from Ba2-PD. Concurrently, Moody's assigned a Ba2 rating to Team Health's proposed $965 million senior secured term loan B and a B2 rating to the company's proposed $545 million senior unsecured notes. Moody's also confirmed the Ba2 rating of Team Health's existing $650 million revolver and $585 million senior secured term loan A, given first-loss absorption that will now be provided by the unsecured debt in the capital structure.

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