...Low Debt Leverage: Fitch expects UHS will operate with gross debt/EBITDA after net distributions to associates and minorities in the low 2x range through the ratings horizon, with ample cushion to sustain below 3x. Leverage was 2.3x at Sept. 30, 2017, the lowest among Fitch-rated hospital companies, driven by management's relatively more conservative balance sheet management and M&A strategy. Diversification, Stability from Behavioral Health: UHS's behavioral health segment provides increased revenue diversification, as well as improved financial stability and profitability. Good organic growth in the mid-single digits and moderately improving profit margins are expected over the ratings horizon as the segment continues to benefit from improving parity between payors' coverage of care relative to the general acute segment. Recent acquisitions are in line with Fitch's expectation that opportunities to expand the behavioral health segment will be a primary focus of capital deployment for...
