Moody’s drops Quorum Health, facility, notes

Moody's Investors Service said it downgraded Quorum Health Corp.’s corporate family rating to B3 from B2, probability of default rating to B3-PD from B2-PD, senior secured credit facility to B2 from B1 and unsecured notes to Caa2 from Caa1.

These ratings were placed on review for further downgrade.

The agency also lowered the speculative grade liquidity rating to SGL-4 from SGL-3.

Moody’s said the action follows the company's announcement of its unaudited 2016 financial results and its 2017 financial outlook. Quorum also announced that it delayed filing its 2016 annual report with audited financial statements while it negotiates covenant relief with its lenders.

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