NEW YORK (Standard&Poor's) July 9, 2012--Standard&Poor's Ratings Services said today that it assigned ratings to the proposed $1 billion senior notes due 2020 to be borrowed by CHS/Community Health Systems Inc., a wholly owned subsidiary of Franklin, Tenn.-based Community Health Systems Inc. We rated the notes 'B' (one notch lower than the 'B+' corporate credit rating on the company) with a recovery rating of '5', indicating our expectation of modest (10% to 30%) recovery for lenders in the event of a payment default. The company will use the proceeds of this new issue to refinance senior notes that mature in 2015. The corporate credit rating on Community Health is 'B+' and the rating outlook is stable.
