On June 1, 2007, Standard&Poor's Ratings Services said its corporate credit rating on Brentwood, Tenn.-based hospital owner and operator Community Health Systems Inc. (BB-/Watch Neg/--) remains on CreditWatch with negative implications, where it was originally placed on March 20, 2007. The CreditWatch listing reflects the company's pending acquisition of Triad Hospitals Inc. in a transaction valued at about $6.8 billion. If the transaction closes as expected, early in the third quarter, we will then lower the corporate credit rating to 'B+' and the outlook will be stable. At the same time, we will assign the following ratings to the proposed issues that will finance the acquisition of Triad as well as refinance the existing debt of both companies:
