Moody’s gives Community Health notes Caa2

Moody’s Investors Service said it gave a Caa2 rating to CHS/Community Health Systems, Inc.’s new senior secured notes.

“Moody’s views the transaction as being credit positive because it lengthens Community’s maturity profile. That said, the company will continue to face significant refinancing risk as it pertains to the remaining maturity wall in 2023 post-transaction,” the agency said in a press release.

There is no change to Community’s other ratings, including its Caa3 corporate family rating, the agency said.

Proceeds will be used to repay a portion of the company’s 6¼% senior secured first-lien notes due March 2023.

The outlook is stable.

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