S&P gives Community Health loan BB

Standard & Poor's said it assigned its BB rating to Community Health Systems, Inc.'s proposed $1.66 billion term loan F.

The recovery rating on this debt is 1, indicating an expectation for very high (90% to 100%) recovery for lenders in the event of default.

All other ratings on Community Health, including the B+ credit rating, are unaffected by this announcement.

The rating on this term loan is the same as the rating on Community Health's existing term loan E, which it partially refinances. While the transaction has no impact on interest expense, it extends the maturity on this portion of Community Health's debt to December 2018 from January 2017.

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