NEW YORK (S&P Global Ratings) Nov. 2, 2026--S&P Global Ratings today assigned its ‘BBB’ issue-level rating to HCA Inc. ’s proposed senior notes issued in several tranches. The Nashville, Tennessee-based company plans to use the proceeds for general corporate purposes, which may include repayment of all or a portion of its $1.2 billion notes due in 2027, borrowings under its commercial paper program, and possibly its senior unsecured credit facility. The proposed debt offering is leverage neutral. Our ‘BBB’ rating on parent HCA Healthcare Inc. , reflects its substantial scale (nearly $80 billion in revenue in 2026), diversified mix, and strong local market positions. Its S&P Global Ratings-adjusted EBITDA margin of 19%-20% is the highest among its healthcare provider peers.
