Moody's turns Tenet outlook to positive

Moody's Investors Service said it changed Tenet Healthcare Corp.’s outlook to positive from stable and affirmed its ratings, including its B2 corporate family rating and its B2-PD probability of default rating.

The agency also affirmed Tenet's senior secured first-lien and second-lien debt at B1 and its senior unsecured debt at Caa1. The speculative grade liquidity rating of SGL-2 is unchanged.

“The positive outlook reflects a strengthening across all of Tenet's business segments and recent evidence of deleveraging. Tenet's volumes have largely recovered from the depths of the Covid-19 pandemic throughout which Tenet has executed effectively throughout various surges of hospitalizations in its markets,” Moody’s said in a press release.

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