This report does not constitute a rating action. TORONTO (S&P Global Ratings) Aug. 13, 2025--S&P Global Ratings today said that Surgery Center Holdings Inc.'s (a subsidiary of Surgery Partners Inc. ) recent repricing of its $1,382.5 million senior secured first-lien term loan B due 2030 is credit neutral because there will be no change in the facility?s size. Therefore, our 'B' issuer credit rating and stable outlook--as well as our 'B' issue-level rating and '3' recovery rating on its first-lien senior secured term loan and revolving credit facility--are unchanged. The '3' recovery rating continues to indicate our expectation for meaningful (50%-70%; rounded estimate: 60%) recovery in the event of a payment default. Our 'B' issuer credit rating on Surgery Partners
