Moody's rates Tenet notes B3

Moody's Investors Service said it assigned a B3 (LGD 5, 81%) rating to Tenet Healthcare Corp.'s proposed offering of $400 million of senior unsecured notes due 2019.

Given that the agency does not expect an increase in leverage from this offering, there is no change to the existing ratings of the company, including the B1 corporate family rating and B1-PD probability of default rating.

The stable outlook is unchanged.

Proceeds will be used for general corporate purposes, including the repayment of amounts outstanding under the company's revolving credit agreement.

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