Fitch Ratings assigned a "BB+/RR1" rating to Nashville, Tenn.-based HCA Healthcare's proposed senior secured notes issuance. The ratings apply to $31.7 billion of outstanding debt.
The ratings assignment is based on a number of factors, including HCA's industry-leading operating margins and consistent cash flow.
The outlook is stable, reflecting Fitch Ratings' expectation that HCA will retain its strong market position.