Moody’s Investor Service has upgraded Loyola University in Chicago’s debt rating from A3 to A2 following its sale of Loyola University Health System to Novi, Mich.-based Trinity Health, according to a Chicago Tribune report. Under the deal, Trinity assumed $780 million in liabilities from the health system and will provide $75 million to fund a new medical research building at the University. Additionally, Trinity will provide $22.5 million per year to the Loyola University Stritch School of Medicine.
The sale of the health system means that Loyola University will no longer operate hospitals. The hospital and medical school will continue to partner — physicians at the hospital will maintain faculty appointments.
Read the Chicago Tribune report on Loyola University Health System.
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