Moody’s rates AHP Health B3, facility B1

Moody's Investors Service said it assigned AHP Health Partners, Inc. a B3 corporate family rating, B3-PD probability of default rating and a B1 to its proposed $765 million senior secured credit facility.

AHP Health is the borrower and subsidiary of Ardent Health Partners, LLC.

The outlook is stable.

Proceeds from the new term loan, along with junior capital (to be rated at a later date), will be used to refinance all existing debt at Ardent Legacy Acquisitions, Inc. and LHP Hospital Group, Inc. The assets and liabilities of LHP Hospital Group, Inc. had previously not been included in the rated credit entity.

The anticipated refinancing transaction will consolidate all financing into one structure, the agency explained.

Moody's said it will withdraw all ratings at Ardent Legacy Acquisitions, Inc. when the refinancing transaction closes.

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