S&P rates Health Management

Standard & Poor's said it assigned its BB- issue-level rating and 2 recovery rating to Health Management Associates Inc.'s proposed $500 million revolving credit facility, $1 billion term loan A and $1.2 billion term loan B.

In addition, S&P said it assigned its B- issue-level rating and 6 recovery rating to the company's $1 billion unsecured notes. The rating outlook on the company is stable.

"The speculative-grade rating on HMA reflects our expectation that the company will continue to face operating margin pressures," said S&P credit analyst David Peknay, "while acquisitions will constrain credit measures to a level consistent with an aggressive financial risk profile."

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