Community Health Systems Inc. 'B+' Rating Affirmed, Outlook Revised To Stable On Acquisition Integration Progress

Acute-care hospital operator Community Health Systems Inc. has demonstrated significant progress in integrating its January 2014 acquisition of Health Management Associates (HMA). Since closing on the acquisition last year, Community has achieved about half of the total synergies outlined at the time of the acquisition, and has met our targets for free operating cash flow generation. We are affirming our 'B+' rating on Community and revising our rating outlook to stable from negative. All issue-level ratings are unaffected by this announcement. The stable rating outlook reflects our belief that the integration of HMA is on track, and that Community should be able to reduce leverage to the low- to mid-5x range by the end of 2015, consistent with historical levels.

...+ Acute-care hospital operator Community Health Systems Inc. has demonstrated significant progress in integrating its January 2014 acquisition of Health Management Associates (HMA). + Since closing on the acquisition last year, Community has achieved about half of the total synergies outlined at the time of the acquisition, and has met our targets for free operating cash flow generation. + We are affirming our 'B+' rating on Community and revising our rating outlook to stable from negative. All issue-level ratings are unaffected by this announcement. + The stable rating outlook reflects our belief that the integration of HMA is on track, and that Community should be able to reduce leverage to the low- to mid-5x range by the end of 2015, consistent with historical levels. BOSTON (Standard & Poor's) Jan. 29, 2015--Standard & Poor's Ratings Services today affirmed its 'B+' corporate credit rating on Franklin, Tenn.-based acute-care hospital operator Community Health Systems Inc. and revised...

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