Kindred Healthcare, Inc. -- Moody's rates Kindred's proposed term loan B1; B1 CFR affirmed; outlook is stable

New York, March 17, 2014 -- Moody's Investors Service assigned a B1 (LGD 3, 43%) rating to Kindred Healthcare, Inc.'s proposed $1.0 billion term loan B due 2021. Moody's understands that the proceeds of the new term loan, a new $750 million ABL revolving credit facility (not rated by Moody's) and a potential $500 million senior unsecured debt restructuring will be used to refinance the company's existing capital structure. Moody's also affirmed the existing ratings of Kindred, including the B1 Corporate Family Rating and B1-PD Probability of Default Rating. The rating outlook is stable.

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