Acute Care and Behavioral Health Segment Analysis
UHS
Disciplined Balance Sheet Management
Prudent balance sheet management with well-spaced maturity profile, strong free cash flow and access to multiple capital markets
Senior secured notes, revolving credit facility and Term Loan rank pari passu from a collateral and guarantees perspective
• Track record of maintaining consistent, conservative leverage profile
⚫ On July 28, 2021, Moody's upgraded Universal Health Services' senior secured ratings across its credit facilities and senior secured notes to
Baa3 from Ba1, with a stable outlook
•
Reflects the Company's scale, track record of low financial leverage, robust free cash flow and business segment diversification
DEBT/ADJUSTED EBITDA
2.5x
2.4x
2.3x
2.2x
2.1x
I
I
2.5x
I
I
2.3x
I
I
2.2x
2.2x
1.5x
2016
I
2017
I
I
I
2018
2019
2020
Note: Gross Leverage: Debt / Adj. EBITDA; Net Leverage: (Debt - cash (& equivalents)) / Adj. EBITDA
T
I
I
1.9x
I
I
1.8x
I
I
I
I
I
Net
I
leverage
LTM 9/30/21
25View entire presentation