Fitch sees sustainable, secular ASC tailwinds bolstering Tenet's volume growth and margin trends over the rating horizon, especially with their influence on EBITDA likely rising with potential further hospital divestitures and as ASC growth accelerates with the maturation of over $2.5 billion of ASC assets acquired from Surgical Care Development ("SCD") in 2020-21 (and center-level equity buy-ups ongoing).
