Fitch cuts Universal Health rating on new debt

Associated Press, May 19, 2010
Fitch Ratings Services cut its rating on Universal Health Services Inc. a day after the hospital operator agreed to buy Psychiatric Solutions Inc. for about $2 billion. Fitch now has a non-investment grade "junk" rating of "BB" on the Universal Health, down three notches from an earlier rating of "BBB." Fitch also placed the company's ratings on rating watch negative, indicating it could downgrade the King of Prussia, PA-based company's ratings further.

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