Moody's lifts Team Finance

Moody's Investors Service said it upgraded the corporate family and probability of default ratings of Team Finance LLC, a holding company and parent of Team Health, Inc., to B1.

Moody's said it also confirmed the ratings of the company's senior credit facility at B1 and upgraded the ratings on its senior subordinated notes to B3.

The outlook is positive.

According to the agency, this action concludes the review of the ratings initiated on Dec. 21.

Concurrently, Moody's said it affirmed the company's speculative-grade liquidity rating at SGL-1.

"The upgrade of the corporate family rating and the positive outlook reflect the company's continued progress in reducing financial leverage through positive operating results and the reduction of outstanding debt through the use of proceeds from the initial public offering," said Dean Diaz, a senior credit officer at Moody's.

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