Tenet Healthcare Corporation -- Moody's confirms Tenet's B1 CFR; outlook negative

New York, May 21, 2015 -- Moody's Investors Service (Moody's) today confirmed the B1 Corporate Family Rating and B1-PD Probability of Default Rating of Tenet Healthcare Corporation (Tenet). Moody's also affirmed the company's Speculative Grade Liquidity Rating of SGL-2. The rating outlook is negative. These actions conclude the review for downgrade that commenced on March 23, 2015 when Tenet announced that the company had signed a definitive agreement to enter into a joint-venture transaction with Welsh, Carson, Anderson & Stowe (WCAS) and acquire Aspen Healthcare Ltd. The joint venture will combine the ambulatory surgery centers, surgery hospitals and imaging assets of Tenet with United Surgical Partners International (USPI).

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