Care UK downgraded to Caa1 by Moody’s

Hospital
By Victor Jimenez
27 Apr 2016

Moody’s has downgraded Care UK, which claims to be the country's largest independent provider of health and social care, to a corporate family rating of Caa1.

Care UK’s senior secured floating rate bonds were downgraded in parallel, from B3 to Caa1, and its senior subordinated second lien notes from Caa2 to Caa3.

The company had not replied to GlobalCapital'squestions at press time. Market reaction was muted. Care UK's bonds traded at the same ...

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