Moody's upgrades Medi-Partenaires, notes

Moody's Investors Service said it upgraded the corporate family rating of Holding Medi-Partenaires SAS to B1 from B2 and its probability of default rating to Ba3-PD from B2-PD.

Concurrently, the agency upgraded the company's senior secured notes to B2 from B3.

The outlook is stable.

"We are upgrading Medi-Partenaires' CFR to B1 to reflect the company's increased scale in the French private hospital market and the potential for synergies following its acquisition of Medipole Sud Sante," Knut Slatten, Moody's assistant vice president, analyst and lead analyst for Medi-Partenaires, said in a news release.

"It also reflects the new capital structure that Medi-Partenaires is putting in place, which will decrease leverage within the restricted group."

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