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Fitch Affirms DaVita Inc.'s IDR at 'BB-'; Outlook Stable.

Publication: Business Wire
Publication Date: 19-AUG-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
CHICAGO -- Fitch Ratings has affirmed DaVita Inc.'s (DaVita) ratings as follows:

--Issuer Default Rating (IDR) at 'BB-';

--Bank credit facility at 'BB+';

--Senior unsecured notes at 'BB-';

--Senior subordinated notes at 'B'.

The Rating Outlook is Stable.

The ratings apply to approximately $3.7 billion of debt outstanding as of June 30, 2009.

The ratings reflect DaVita's incrementally improved financial and operating metrics, partially offset by continued industry pressures. Leverage (total debt/EBITDA) has declined to 3.11 times (x) for the last 12 months (LTM) ended June 30, 2009, from 3.38x LTM ended June 30, 2008. This reduction was driven...



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