Fitch rates Community Health notes B+

Fitch Ratings said it assigned a B+ rating to Community Health Systems Inc.'s planned $250 million senior subordinated notes.

Fitch also affirmed Community's BB rated $1.625 billion secured credit facility and B+ rated convertible subordinated notes due 2008. The outlook is stable.

Proceeds from the issue are expected to term-out borrowings under the company's $425 million revolving bank facility, which were drawn down to fund Community's recent share repurchase.

Community's rating reflects the validity of the company's business model and its leading market presence, experienced management and track record of successful acquisitions, offset by modestly high leverage and acquisition-associated risks, Fitch said.

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