S&P Cuts Amsurg (AMSG) to 'B+'; Cites Increased Debt Burden
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Moody's Cuts Amsurg (AMSG) to 'Ba3'; Notes Leverage Increase on Sheridan Acquisition
June 30, 2014 9:56 AM EDTMoody's Investors Service downgraded AmSurg Corp's (Nasdaq: AMSG) Corporate Family Rating to B1 from Ba3 and the Probability of Default Rating to B1-PD from Ba3-PD. Concurrently, AmSurg's existing senior unsecured notes are downgraded to B3 from Ba3. In addition, Moody's assigned a Ba2 rating to the company's new $1.4 billion senior secured credit facilities, consisting of a $300 million revolving credit facility expiring in 2019, and a $1.1 billion senior secured term loan B due 2021. Moody's has also assigned a B3 rating to the company's new $880 million senior unsecured notes. The rating outlook is stable. The action... More
Amsurg (AMSG) Plans $880M Senior Unsecured Notes Offering
June 30, 2014 6:50 AM EDTAmsurg (Nasdaq: AMSG) announced that it has launched its offering of approximately $880 million aggregate principal amount of senior unsecured notes due 2022 (the Notes). The closing of the offering of the Notes is conditioned upon the closing of AMSURGs previously announced acquisition of Sheridan Healthcare (the Sheridan Transaction).
AMSURG intends... More
