New York, June 24, 2013 -- Moody's Investors Service placed the ratings of Tenet Healthcare Corporation (Tenet) under review for downgrade, including the company's B1 Corporate Family Rating and B1-PD Probability of Default Rating. The rating action follows the announcement that Tenet has signed a definitive agreement to acquire Vanguard Health Systems, Inc. (Vanguard) for a transaction value of $4.3 billion, including the assumption of about $2.5 billion of Vanguard debt.

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