Fitch Updates Recovery Analyses for U.S. For-Profit Hospital Operators

NEW YORK--()--Fitch Ratings has published updated recovery analyses for the U.S. for-profit hospital operators rated below 'BB-' including:

--Community Health Systems, Inc.;

--Tenet Healthcare Corp.

The interactive recovery analysis worksheets are available at 'www.fitchratings.com' under the following headers:

Rating and Research >> Corporate Finance >> Leveraged Finance >> U.S. Leveraged Finance >> Healthcare Recovery Models

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Hospitals' Credit Diagnosis (Better Performance Reflects ACA Benefit, Economic Improvement)' (Oct. 9, 2014);

--'U.S. Healthcare Stats Quarterly (Second-Quarter 2014)' (Oct. 9, 2014);

--'Lateral Consolidation of Healthcare Providers (Is the Whole Greater than the Sum of the Parts?)' (July 29, 2014);

--'Corporate Rating Methodology' (May 28, 2014);

--'High-Yield Healthcare Checkup: Comprehensive Analysis of High-Yield U.S. Healthcare Companies' (April 4, 2014);

--'2014 Outlook: U.S. Healthcare - Secular Challenges Require a Compelling Value Proposition' (Nov. 25, 2013);

--'Recovery and Notching Criteria for Non-Financial Corporate Issuers' (Nov. 19, 2013);

--'U.S. Leveraged Finance Spotlight Series - HCA Holdings, Inc.' (Nov. 7, 2013);

--'For-Profit Hospital Insights (Fitch's Annual Review of Bad Debt Accounting Policies and Practices)' (Oct. 24, 2013);

--'U.S. Corporates - The Varying Effects of Affordable Care (Financial Implications of ACA Will Vary but Credit Implications Are Universally Limited)' (Sept. 12, 2013);

--'The Affordable Care Act and Healthcare Providers (Assessing the Potential Impact)' (May 1, 2013);

--'U.S. Leveraged Finance Spotlight Series - Community Health Systems, Inc.' (Oct. 1, 2012).

Applicable Criteria and Related Research: U.S. Healthcare Recovery Models (Third-Quarter 2014)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=817128

Hospitals ¬ Credit Diagnosis (Better Performance Reflects ACA Benefit, Economic Improvement)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=787890

U.S. Healthcare Stats Quarterly (Second-Quarter 2014)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=775748

Lateral Consolidation of Healthcare Providers (Is the Whole Greater than the Sum of the Parts?)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=753102

Corporate Rating Methodology - Including Short-Term Ratings and Parent and Subsidiary Linkage

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749393

High-Yield Healthcare Checkup: Comprehensive Analysis of High-Yield U.S. Healthcare Companies

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=736356

2014 Outlook: U.S. Healthcare ¬ Secular Challenges Require a Compelling Value Proposition

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=724141

Recovery Ratings and Notching Criteria for Non-Financial Corporate Issuers

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=721836

U.S. Leveraged Finance Spotlight Series - HCA Holdings, Inc.

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=721356

For-Profit Hospital Insights (Fitch's Annual Review of Bad Debt Accounting Policies and Practices)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=721280

U.S. Corporates ¬ The Varying Effects of Affordable Care (Financial Implications of ACA Will Vary but Credit Implications Are Universally Limited)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=716582

The Affordable Care Act and Healthcare Providers (Assessing the Potential Impact)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=706654

U.S. Leveraged Finance Spotlight Series Community Health Systems, Inc.

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=687271

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings, Inc.
Megan Neuburger
Senior Director
+1-212-908-0501
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Robert Kirby, CFA
Director
+1-312-368-3147
or
Media Relations
Brian Bertsch, +1-212-908-0549
brian.bertsch@fitchratings.com

Contacts

Fitch Ratings, Inc.
Megan Neuburger
Senior Director
+1-212-908-0501
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Robert Kirby, CFA
Director
+1-312-368-3147
or
Media Relations
Brian Bertsch, +1-212-908-0549
brian.bertsch@fitchratings.com