Moody's: Tenet Healthcare unaffected

Moody's Investors Service said Tenet Healthcare Corp.'s announcement that it has launched a tender offer for its 9 7/8% senior notes due 2014 has no immediate impact on the long-term ratings of the company, including the B3 corporate family rating.

However, the increase in the proportion of secured debt within the capital structure associated with the earlier exchange of notes and the current tender offer is expected to result in considerable downward pressure on the ratings of Tenet's senior secured and senior unsecured notes, the agency added.

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