EFTA Document EFTA01385390

3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite Universal Hospital ll.lHOS) We rate UHOS's bonds Buy. At an offer price of 100.75, investors can see an above-market return (YTW 6.40% to the 8/15/18 call) for what we view as YTC paper in a solid and improving credit story. We also believe UHOS's bonds could serve as a hedge and potentially outperform in a market downturn as bonds remain call constrained. We believe UHOS's strategic focus around EVM will help i