23.12.2014 23:47:00
|
HealthSouth Corporation -- Moody's affirms HealthSouth's Ba3 CFR; new term loan rated Baa3; sr. notes downgraded to B1
New York, December 23, 2014 -- Moody's Investors Service today affirmed HealthSouth Corporation's Ba3 Corporate Family Rating and Ba3-PD Probability of Default Rating. Moody's also assigned a Baa3 rating to HealthSouth's incremental $300 million senior secured term loan. Proceeds from the new term loan, along with a draw on the company's revolver will be used to fund the $750 million acquisition of EHHI Holdings Inc., which owns Encompass Home Health and Hospice. The acquisition is expected to close by the end of 2014.