HealthSouth Corporation -- Moody's: HealthSouth's acquisition of Encompass is credit negative

New York, November 24, 2014 -- Moody's Investors Service commented that HealthSouth Corporation's announcement that it has entered into a definitive agreement to acquire Encompass Home Health and Hospice for approximately $750 million is credit negative. The acquisition, which is expected to close before the end of 2014 and will be funded with a combination of available cash and incremental debt, will increase HealthSouth's leverage and its exposure to Medicare reimbursement. However, there is no change to HealthSouth's ratings, including its Ba3 Corporate Family Rating and Ba3-PD Probability of Default Rating. The stable rating outlook is also unchanged.

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