Fitch Downgrades HCA, Inc.'s IDR to 'B' Upon Completion of LBO; Outlook Now Stable.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch has downgraded and removed from Rating Watch Negative HCA HCA, n.pr See acid, hydroxycitric. , Inc.'s existing ratings as a result of the completion of its leveraged buyout (LBO LBO See: Leveraged buyout LBO See leveraged buyout (LBO). ): --Issuer Default Rating (IDR IDR In currencies, this is the abbreviation for the Indonesian Rupiah. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) downgraded to 'B' from 'BB+'; --Senior unsecured notes downgraded to 'CCC+/RR6' from 'BB+'. Fitch has also withdrawn the 'BB+' rating on the Unsecured Bank Facility. Additionally, Fitch assigns the following new ratings: --Asset Based Facility 'BB/RR1'; --Euro Term Loan 'BB/RR1'; --Secured Bank Facility 'BB/RR1'; --Second-Lien Notes 'B/RR4'. The rating Outlook is now Stable. Fitch originally placed HCA on Rating Watch Negative on July 24, 2006. For additional rating information please see the press release on HCA dated Oct. 20, 2006 on www.fitchratings.com. Fitch's Recovery Ratings (RR), introduced in 2005, are a relative indicator of creditor recovery on a given obligation in the event of a default. A broad overview of Fitch's RR methodology as it relates to specific sectors, including a Case Study webcast, can be found at http://www.fitchratings.com/recovery. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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