Moody’s upgrades HCA

Moody's Investors Service said it upgraded the ratings of HCA Holdings, Inc., including the corporate family rating to Ba2 from Ba3 and the probability of default rating to Ba2-PD from Ba3-PD.

Concurrently, the agency upgraded the ratings on the existing debt instruments at HCA Holdings and its wholly owned subsidiary HCA, Inc.

The outlook is stable and the speculative grade liquidity rating was affirmed at SGL-2.

"We expect that HCA's strong presence in the markets it serves will result in sustainable profitability and contribute to stable cash flow and solid credit metrics," Moody's senior vice president Dean Diaz said in a news release.

"While benefits from lower bad debt expense resulting from the expansion of insurance coverage under the Affordable Care Act will slow, HCA's geographic and service line diversification position the company well to adjust to the dynamic healthcare environment."

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