NEW YORK (Standard&Poor's) June 20, 2002--Standard&Poor's said today that it assigned its double-'B'-minus rating to the $1.25 billion senior secured bank facility of provider of nonurban hospital services, CHS/Community Health Systems, Inc. The proceeds will be used to refinance existing debt. At the same time, Standard&Poor's raised its corporate credit rating on the parent company, Brentwood, Tenn.-based Community Health Systems Inc. to double-'B'-minus from single-'B'-plus. The outlook is stable. Total debt outstanding is $1.05 billion, assuming no draws on the revolving credit facility. "The company is expected to maintain an aggressive, but reasonable level of acquisition activity such that its impact on its financial profile is consistent with the rating," commented Standard&Poor's
