NEW YORK (Standard&Poor's) March 15, 2016--Standard&Poor's Ratings Services said today that its ratings on Surgery Partners Inc. (B/Stable/--) and subsidiary Surgery Center Holdings Inc., including the 'B' first-lien issue-level rating and 'CCC+' second-lien issue-level rating, are not affected by the company's $80 million add-on to the first-lien term loan. The recovery rating on Surgery Center Holdings' first-lien term loan is '3', reflecting our expectation for meaningful (50% to 70%; at the upper end of the range) recovery in the event of payment default. The recovery rating on Surgery Center Holdings' second-lien term loan is '6', reflecting our expectation for negligible (0% to 10%) recovery in the event of payment default. The company will use the proceeds
