January 22, 2013 at 11:53 AM EST
TEXT-S&P rates Tenet Healthcare notes 'B+'
Jan 22 - Standard & Poor's Ratings Services today assigned Dallas-based Tenet Healthcare Corp.'s proposed $850 million senior secured notes due 2021 its 'B+' issue-level rating (one notch above the 'B' corporate credit rating on the company). We also assigned the notes a recovery rating of '2', indicating our expectation for substantial (70% to 90%) recovery for lenders in the event of a payment default. The company plans to use the proceeds to refinance existing debt. The corporate credit rati
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