Moody’s: Ramsay Generale view to positive

Moody's Investors Service said it changed the outlook on Ramsay Generale de Sante's (RGdS) ratings to positive from stable.

Concurrently, the agency affirmed the Ba3 corporate family rating, B1-PD probability of default rating and the Ba3 rating assigned to its senior secured loan facilities.

"The change of outlook is driven by our expectations that RGdS will continue to deliver a resilient operating performance allowing for some de-leveraging in spite of a challenging operating environment within the French private hospital sector," Knut Slatten, Moody's vice president, senior analyst and lead analyst for RGdS, said in a news release.

"While the adverse regulatory environment will continue to pressure tariffs and organic growth, RGdS will deliver free cash flows before eventual dividends of around €60-€70 million, which should be sufficient to finance external growth and drive further de-leveraging."

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