Moody's: Tenet's upsizing of bond offering is credit negative; no impact on ratings
New York, November 17, 2016-- Moody's Investors Service commented that Tenet Healthcare Corporation's upsizing of its senior secured second lien bond offering is credit negative as it will increase leverage and interest costs. Tenet issued a total of $750 million of 7.5% senior secured second lien notes maturing 2022 on November 16, 2016. This represents an upsize from the $500 million initially announced. The incremental debt increases adjusted leverage by only 0.1 times...
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