Moody's assigns Lifepoint loan B2

Moody's Investors Service said it assigned a B2 rating to Lifepoint Health, Inc.'s new $2 billion backed senior secured term loan B due in 2028.

The agency said it left the company’s other ratings unchanged, including the B3 corporate family rating, the B3-PD probability of default rating, the existing B2 rating on the backed senior secured term loan B, the B2 rating on the senior secured notes and the Caa2 senior unsecured ratings.

LifePoint will use the new loan to partially repay its $3.015 billion senior secured term loan due in 2025 and for general corporate purposes. “The transaction itself is largely leverage neutral, with the exception of some fees paid, but will increase interest expense by roughly $30 million a year,” Moody’s said in a press release.

The outlook is unchanged at stable.

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