...NEW YORK (Standard & Poor's) March 1, 2016--Standard & Poor's Ratings Services today assigned its '###-' issue-level rating (two notches above the '##' corporate credit rating on the company) to Nashville, Tenn.-based HCA Inc.'s proposed $1 billion senior secured notes. We expect the notes to mature in 2026. We assigned a '1' recovery rating to this debt, indicating our expectation of very high (90% to 100%) recovery for lenders in the event of a payment default. The issue-level ratings are the same as our ratings on the existing senior secured debt. HCA will use the proceeds for general corporate purposes. Our '##' corporate credit rating on HCA reflects our view that its scale relative to other health care services peers should allow the company to better offset declining reimbursement rates with cost reduction efforts, and that its scale and market presence should aid in contract negotiations with commercial payors. In addition, HCA's business is diversified beyond inpatient hospital...
