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Moody's assigns ratings to CoreCivic

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Moody's assigns ratings to CoreCivic

Moody's assigned a Ba1 corporate family rating to CoreCivic Inc. and affirmed the company's existing senior unsecured rating at Ba1, with a stable outlook.

The rating agency also assigned a Ba1 rating to the prison real estate investment trust's $1.25 billion senior secured credit facility and a speculative grade liquidity rating of SGL-2 to the REIT.

The rating action factors in the REIT's strong credit metrics and good liquidity profile.

The outlook reflects Moody's expectation that CoreCivic will still prudently increase the number of beds it owns and operates while keeping its solid credit profile. It also believes that the REIT's secured debt will largely not reflect on its balance sheet.