Moody's Investors Service affirmed its "A3" rating on Tampa, Fla.-based H. Lee Moffitt Cancer Center's bonds, affecting $131 million of debt.
The affirmation is a result of several factors, including the cancer center's favorable market position, strong brand recognition, healthy revenue growth, solid debt coverage and profitable operations. Moody's also acknowledged the cancer center's modest balance sheet metrics and narrow clinical focus.
The outlook is stable, reflecting Moody's expectation that the cancer center's steady balance sheet metrics will support debt coverage and operation expenses.