Fitch assigns 'AA-' ratings to Providence St. Joseph Health's bonds

Fitch Ratings has assigned "AA-" ratings to Renton, Wash.-based Providence St. Joseph Health's $498 million of series 2016A bonds and $305 million of series 2016B revenue bonds.

Providence St. Joseph Health was formed by the merger between Renton, Wash.-based Providence Health & Services and Irvine, Calif.-based St. Joseph Health in July.

The rating assignment is based on a number of factors, including PSJH's broad operating platform and excellent management practices.

The outlook is stable.

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