20.05.2016 19:31:00
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Tenet Healthcare Corporation -- Moody's downgrades Tenet's CFR to B2; secured notes to Ba3; unsecured notes to Caa1; outlook is stable
New York, May 20, 2016 -- Moody's Investors Service, ("Moody's") today downgraded the Corporate Family Rating of Tenet Healthcare Corporation to B2 from B1 and Probability of Default Rating to B2-PD from B1-PD. Moody's also downgraded the company's senior secured notes to Ba3 (LGD 2) from Ba2 (LGD 2) and senior unsecured notes to Caa1 (LGD 5) from B3 (LGD 5). Finally, Moody's affirmed Tenet's Speculative Grade Liquidity Rating at SGL-2. The rating outlook was changed to stable from negative.