S&P: No change to Tenet notes

Standard & Poor's said its ratings on Tenet Healthcare Corp.'s senior secured and senior unsecured debt remain unchanged following a $141 million add-on to the company's 6¼% senior secured notes due 2018 and a $150 million add-on to its 8% senior notes due 2020.

The issue-level rating on the senior secured notes is BB- with a recovery rating of 1.

The issue-level rating on the senior notes is CCC+ with a recovery rating of 6.

Because S&P already considers the preferred stock as debt, the agency said these add-ons do not change the amount of debt considered in the analysis.

The corporate credit rating on Tenet is B and the outlook is stable.

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