CoreCivic, Inc.: Update to credit analysis
Moody's ratings on CoreCivic, Inc. (CXW) reflect its strong credit profile, particularly its low leverage on a net debt to EBITDA basis, high fixed charge coverage and minimal secured debt.CoreCivic is a real estate investment trust. The company is the owner of partnership correctional, detention, and residential reentry facilities and prison operators. Through three segments, CoreCivic Safety, CoreCivic Community, and CoreCivic Properties, the company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions. In addition to providing fundamental residential services, the company's correctional, detention, and residential reentry facilities provide a variety of rehabilitation and educational programs.
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