Rating Action: Moody’s downgrades GenesisCare’s ratings to B2, revises outlook to stable from negativeGlobal Credit Research – 29 Mar 2021NOTE: On March 31, 2021, the press release was corrected as follows: In the second sentence of the third paragraph of the press release, the issuer name was changed to GenesisCare USA Holdings, Inc. Revised release follows.Sydney, March 29, 2021 — Moody’s Investors Service has today downgraded Genesis Care Finance Pty Ltd’s (GenesisCare) corporate family rating to B2 from B1, and changed the outlook to stable from negative.”IMPORTANT NOTICE: MOODY’S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. SUCH USE WOULD BE RECKLESS AND INAPPROPRIATE. SEE FULL DISCLAIMERS BELOW.”At the same time, Moody’s has downgraded the ratings of the backed senior secured term loan B facility entered into by Genesis Specialist Care Finance UK Limited — a 100%-owned and guaranteed subsidiary of GenesisCare — to B2 from B1, and changed the outlook to stable from negative. Moody’s has also downgraded the backed senior secured ratings of the senior secured term loan B facility entered into by GenesisCare USA Holdings, Inc. — a 100%-owned and guaranteed subsidiary of GenesisCare — to B2 from B1. The outlook is stable.RATINGS RATIONALE”The downgrade reflects the impact of GenesisCare’s debt-funded expansion on its leverage (Moody’s adjusted debt/EBITDA), which we expect to remain above Moody’s rating tolerance threshold of 6.0x at a…