Pali Research Initiates Coverage on Community Health Systems (CYH) with a Neutral
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Pali Research initiates coverage on Community Health Systems (NYSE: CYH) with a Neutral.
Pali analyst says, "CYH has de-levered the least since taking on nearly $6 billion in term loans and $3 billion in high yield debt to acquire Triad Hospitals in August 2007 and now has the highest Leverage Ratio of the group. At a minimum, that implies that CYH’s EPS and cash flow growth could lag the group. We worry that there could be another ‘credit crunch’ and/or that the cost of refinancing this debt could become more prohibitive the closer we get to 2014 when the ‘monster’ term loan matures. CYH’s equity could, longer-term, also become a more credit-sensitive equity and could therefore trade at a lower valuation than its peers."
To see more analyst ratings on CYH Click Here.
Community Health Systems, Inc. provides healthcare services through operation of hospitals in the United States.
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