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Moody's might lower AmSurg
Moody's Investors Service said it placed the Ba3 corporate family rating and Ba3-PD probability of default rating of AmSurg Corp. under review for downgrade following the company's May 29 announcement that it entered into an agreement to acquire Sheridan Holdings, Inc. in a transaction valued at $2.35 billion.
Moody's review will focus on the expected performance of the combined entities, the proposed capital structure and strategy for deleveraging, the timing and magnitude of synergies realized, as well as the combined organization's free cash flow capabilities and liquidity.
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