Fitch affirms Tenet Healthcare

Fitch Ratings said it affirmed Tenet Healthcare Corp.'s B- issuer default rating and B- senior unsecured notes with a recovery rating of RR4. The outlook is negative.

Fitch said the company's ratings remains appropriate given continued operational difficulties hindering a financial turnaround and still-pending legal concerns. Like the rest of the sector, Tenet Healthcare continues to struggle with soft patient volumes and bad debt issues.

Coverage and leverage metrics are appropriate for the rating, and the company's liquidity profile serves to further support the rating, the agency said. Total debt to EBITDA at Dec. 31 was 7.8x and EBITDA coverage of interest) was 1.5 x.

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