<0> Fitch Updates Recovery Analyses for U.S. For-Profit Hospital Operators </0>
<0> Fitch RatingsMegan Neuburger, +1-212-908-0501Senior DirectorFitch Ratings, Inc.One State Street PlazaNew York, NY 10004orRobert Kirby, CFA, +1-312-368-3147DirectororMedia RelationsBrian Bertsch, +1-212-908-0549 </0>
Link to Fitch Ratings' Report: U.S. Healthcare Recovery Models -- Third-Quarter 2013
Fitch Ratings has published updated recovery analyses for the U.S. for-profit hospital operators rated below 'BB-', including:
--Community Health Systems, Inc.;
--HCA Holdings, Inc.;
--Tenet Healthcare Corp.
The interactive recovery analysis worksheets are available at '' under the following headers:
Rating and Research>>Corporate Finance>>Leveraged Finance>>U.S. Leveraged Finance>>Healthcare Recovery Models
Additional information is available at ''.
Applicable Criteria and Related Research:
--'U.S. Corporates - The Varying Effects of Affordable Care (Financial Implications of ACA Will Vary but Credit Implications Are Universally Limited)' (Sept. 16, 2013);
--'Hospitals' Credit Diagnosis (Weak Volume Trend Possible Evidence of Systemic Shifts in Care Delivery)' (June 28, 2013);
--'U.S. Healthcare Stats Quarterly - First-Quarter 2013' (June 25, 2013);
--'The Affordable Care Act and Healthcare Providers (Assessing the Potential Impact)' (May 1, 2013);
--'U.S. Healthcare Stats Quarterly - Fourth-Quarter 2012' (April 12, 2013);
--'Hospitals Credit Diagnosis (Implications of the ACA Slowly Taking Shape)' (April 4, 2013);
--'High-Yield Healthcare Checkup: Comprehensive Analysis of High-Yield U.S. Healthcare Companies' (Jan. 30, 2013);
--'2013 Outlook: U.S. Healthcare - Navigating a Dynamic Operating and Regulatory Environment' (Nov. 29, 2013);
--'Recovery and Notching Criteria for Non-Financial Corporate Issuers' (Nov. 13, 2012);
--'U.S. Leveraged Finance Spotlight Series - HCA, Inc.' (Oct. 24, 2012);
--'U.S. Leveraged Finance Spotlight Series - Community Health Systems, Inc.' (Oct. 1, 2012);
--'Corporate Rating Methodology' (Aug. 12, 2012);
--'For-Profit Hospital Insights: Fitch's Annual Review of Bad Debt Accounting Policies and Practices' (June 21, 2012);
--'For-Profit Hospital Insights: Electronic Health Record Incentive Payments' (March 7, 2012).
Applicable Criteria and Related Research:
For-Profit Hospital Insights: Electronic Health Record Incentive Payments
For-Profit Hospital Insights: Fitch's Annual Review of Bad Debt Accounting Policies and Practices
Corporate Rating Methodology: Including Short-Term Ratings and Parent and Subsidiary Linkage
U.S. Leveraged Finance Spotlight -- HCA, Inc.
U.S. Leveraged Finance Spotlight Series Community Health Systems, Inc.
Recovery Ratings and Notching Criteria for Non-Financial Corporate Issuers
2013 Outlook: U.S. Healthcare -- Navigating a Dynamic Operating and Regulatory Environment
High-Yield Healthcare Checkup: Comprehensive Analysis of High-Yield U.S. Healthcare Companies
Hospitals Credit Diagnosis (Implications of the ACA Slowly Taking Shape)
U.S. Healthcare Stats Quarterly - Fourth-Quarter 2012
The Affordable Care Act and Healthcare Providers (Assessing the Potential Impact)
U.S. Healthcare Stats Quarterly - First-Quarter 2013
U.S. Corporates -- The Varying Effects of Affordable Care (Financial Implications of ACA Will Vary but Credit Implications Are Universally Limited)
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