New York, October 20, 2015 -- Moody's Investors Service today changed the rating outlook for AmSurg Corporation ("AmSurg") to negative from stable. The rating agency also affirmed the company's B1 Corporate Family Rating and B1-PD Probability of Default Rating. In addition, Moody's affirmed AmSurg's Ba2 senior secured revolver and senior secured term loan ratings, the B3 unsecured notes rating, and the SGL-2 Speculative Grade Liquidity Rating. This action follows the company's announcement that it has made an unsolicited offer to acquire Team Health, Inc. (Ba2 RUR) in a stock-and-cash transaction, valuing the combined company at about $7.8 billion. At the present time, Team Health has not accepted the proposal. The outlook was changed to negative from stable.

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