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S&P: HealthSouth unchanged
Standard & Poor's said its ratings on HealthSouth Corp. are not affected by the company's plans to increase its 5¾% senior notes by roughly $300 million.
The outlook is stable.
Proceeds are expected to be used to retire $250 million of term-loan debt and to reduce amounts outstanding on the company’s revolver.
S&P said the BB- corporate credit rating reflects its assessment of HealthSouth’s business risk as "weak" and the financial risk profile as "significant."
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