Moody's assigns 'A3' rating to North Valley Hospital's bonds

Moody's Investors Service assigned its "A3" to Tonasket, Wash.-based North Valley Hospital's proposed $8.5 million unlimited tax general obligation refunding bonds. The expected sale date is Aug. 16.

The assignment is based on several factors, including the hospital's rural tax base, light debt burden and stable finances. In addition, the rating reflects the government's unlimited taxing authority for voter-approved debt. 

Outlooks are generally not given to government credits of this size.

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