S&P: Community Health loan BB

Standard & Poor's said it assigned a BB rating and 1 recovery rating to Community Health Systems Inc.'s proposed $700 million senior secured revolving credit facility due 2016 and $500 million term loan A due 2016.

The agency also said it affirmed the B+ corporate credit rating on the company.

The outlook is stable.

The proceeds will be used to refinance a portion of the outstanding balance on its term loan B due 2014.

The ratings reflect the company's fair business risk profile and highly leveraged financial risk profile, S&P said.

The company remains acquisitive, but S&P said it believes acquisitions will stay moderate.

The agency also said expects a significant improvement in the EBITDA margin in 2012.

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