Research Update: Community Health Systems Inc. Downgraded To 'SD' From 'CC' On Unsecured Notes Exchange; Issue Rating Lowered To 'D' - S&P Global Ratings’ Credit Research

Research Update: Community Health Systems Inc. Downgraded To 'SD' From 'CC' On Unsecured Notes Exchange; Issue Rating Lowered To 'D'

Research Update: Community Health Systems Inc. Downgraded To 'SD' From 'CC' On Unsecured Notes Exchange; Issue Rating Lowered To 'D' - S&P Global Ratings’ Credit Research
Research Update: Community Health Systems Inc. Downgraded To 'SD' From 'CC' On Unsecured Notes Exchange; Issue Rating Lowered To 'D'
Published Jun 26, 2018
5 pages (1424 words) — Published Jun 26, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Community Health Systems Inc. has completed its offers to exchange unsecured notes due 2019, 2020, and 2022 with new junior priority secured notes due 2023 and 2024. We view the tender for the senior notes due 2022 as a distressed transaction due to the material discount to par value that was received. We are lowering the corporate credit rating to 'SD' from 'CC'. We are lowering the issue-level ratings on its 6.875% notes due 2022 to 'D' from 'C'. ? On June 26, 2018, S&P Global Ratings lowered the corporate credit rating on Franklin, Tenn.-based Community Health Systems Inc. to 'SD' from 'CC'. At the same time, we lowered the ratings on its 6.875% notes due 2022 to 'D' from

  
Brief Excerpt:

...+ Community Health Systems Inc. has completed its offers to exchange unsecured notes due 2019, 2020, and 2022 with new junior priority secured notes due 2023 and 2024. + We view the tender for the senior notes due 2022 as a distressed transaction due to the material discount to par value that was received. + We are lowering the corporate credit rating to '##' from '##'. + We are lowering the issue-level ratings on its 6.875% notes due 2022 to 'D' from 'C'. #...

  
Report Type:

Research Update

Ticker
CYH
Issuer
Community Health Systems Inc.
GICS
Health Care Facilities (35102020)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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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. "Research Update: Community Health Systems Inc. Downgraded To 'SD' From 'CC' On Unsecured Notes Exchange; Issue Rating Lowered To 'D'" Jun 26, 2018. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Community-Health-Systems-Inc-Downgraded-To-SD-From-CC-On-Unsecured-Notes-Exchange-Issue-Rating-Lowered-To-D-2062893>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Community Health Systems Inc. Downgraded To 'SD' From 'CC' On Unsecured Notes Exchange; Issue Rating Lowered To 'D' Jun 26, 2018. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Community-Health-Systems-Inc-Downgraded-To-SD-From-CC-On-Unsecured-Notes-Exchange-Issue-Rating-Lowered-To-D-2062893>
  
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