Moody’s assigns Team Health loans Ba2

Moody's Investors Service said it assigned a Ba2 rating to Team Health, Inc.'s proposed $950 million senior secured credit facilities, consisting of a $500 million revolver expiring in 2019 and a $450 million senior secured term loan A due 2019.

At the same time, the agency affirmed the Ba2 corporate family rating, Ba2-PD probability of default rating and Ba2 senior secured term loan B rating.

The outlook was changed to positive from stable.

Proceeds will be used to fund the acquisitions of five physician staffing companies, provide additional liquidity for future acquisitions and refinance Team Health's existing term loan A.

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