Fitch Withdraws Priory's Ratings
OREANDA-NEWS. Fitch Ratings has withdrawn UK-based provider of behavioural healthcare services Priory Group No. 3 plc's (Priory) ratings, including its 'B+' Long-term Issuer Default Rating (IDR). A full list of rating actions is available at the end of this commentary.
KEY RATING DRIVERS
Fitch is withdrawing the ratings of Priory following completion of the acquisition of Priory by US-based Acadia Healthcare Company, Inc. (Acadia) and the repayment of Priory's outstanding debt, effective 16 February 2016.
Accordingly, Fitch will no longer provide ratings or analytical coverage for Priory.
FULL LIST OF RATING ACTIONS
Priory Group No. 3 plc
-- Long-term IDR 'B+'; Outlook Stable; withdrawn
-- Senior secured notes 'BB+'/'RR1'; withdrawn
-- Senior notes 'BB+'/'RR1'; withdrawn