Community Health Systems Inc. Debt Ratings Affirmed Following Add-On - S&P Global Ratings’ Credit Research

Community Health Systems Inc. Debt Ratings Affirmed Following Add-On

Community Health Systems Inc. Debt Ratings Affirmed Following Add-On - S&P Global Ratings’ Credit Research
Community Health Systems Inc. Debt Ratings Affirmed Following Add-On
Published May 09, 2017
4 pages (1390 words) — Published May 09, 2017
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

BOSTON (S&P Global Ratings) May 9, 2017--S&P Global Ratings today affirmed its 'BB-' issue-level rating on acute-care hospital operator Community Health Systems Inc.'s senior secured debt on news that subsidiary CHS/Community Health Systems Inc. is issuing a $700 million tack on to its senior secured notes due 2023 to repay its term loan A. The recovery rating on this debt remains '1', including our expectation for very high (90%-100%, rounded estimate: 90%) recovery to lenders in the event of payment default. At the same time, we affirmed 'CCC+' issue-level rating on subsidiary CHS/Community Health Systems Inc.'s unsecured debt. The recovery rating on this debt remains '6', indicating our expectations for negligible (0%-10%, rounded estimate: 0%) recovery on this debt in

  
Brief Excerpt:

...BOSTON (S&P Global Ratings) May 9, 2017--S&P Global Ratings today affirmed its '##-' issue-level rating on acute-care hospital operator Community Health Systems Inc.'s senior secured debt on news that subsidiary CHS/Community Health Systems Inc. is issuing a $700 million tack on to its senior secured notes due 2023 to repay its term loan A. The recovery rating on this debt remains '1', including our expectation for very high (90%-100%, rounded estimate: 90%) recovery to lenders in the event of payment default. At the same time, we affirmed '###+' issue-level rating on subsidiary CHS/Community Health Systems Inc.'s unsecured debt. The recovery rating on this debt remains '6', indicating our expectations for negligible (0%-10%, rounded estimate: 0%) recovery on this debt in the event of default. Concurrently, the company is also seeking to extend $750 million of its revolving credit facility to 2021 from 2019. Our 'B' corporate credit rating on Community is unchanged. The rating outlook remains...

  
Report Type:

Ratings Action

Ticker
CYH
Issuer
Community Health Systems Inc.
GICS
Health Care Facilities (35102020)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Community Health Systems Inc. Debt Ratings Affirmed Following Add-On" May 09, 2017. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Community-Health-Systems-Inc-Debt-Ratings-Affirmed-Following-Add-On-1845535>
  
APA:
S&P Global Ratings’ Credit Research. (). Community Health Systems Inc. Debt Ratings Affirmed Following Add-On May 09, 2017. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Community-Health-Systems-Inc-Debt-Ratings-Affirmed-Following-Add-On-1845535>
  
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