...BOSTON (S&P Global Ratings) May 11, 2016--S&P Global Ratings said today that its ratings on acute-care hospital operator HCA Inc. (##/Stable/--) are not affected by the company's announcement that it will repurchase about $750 million in common stock from former financial sponsor Kohlberg Kravis Roberts (KKR). In our view, the repurchase announcement is consistent with our long-standing view that the company will use all internally generated cash flow to repurchase stock. Our '##' corporate credit rating on HCA reflects our view that its scale relative to other health care services peers should allow the company to better offset slower growth in reimbursement rates with cost reduction efforts, and that its scale and market presence should continue to aid in contract negotiations with commercial payors. In addition, HCA's business is diversified beyond inpatient hospital services, with about 40% of 2015 revenues coming from outpatient procedures. These factors are only partially offset by...
