The rating affirmation follows last month’s downgrade from “A2” to “A3” of the health system’s debt issued through the Michigan State Hospital Finance Authority, according to Moody’s. The long-term rating is based on joint default analysis, which reflects the long-term rating of the bank as provider of the letter of credit, the underlying bond rating and the legal protections of the transaction.
Moody’s maintains a short-term “VMIG 1” rating assigned to the bonds.
More Articles on Hospital Finance:
Moody’s Affirms Sanford Health ‘A1’ Rating
8 Recent Hospital Rating and Outlook Changes, Affirmations
4 Key Steps for the Transition from FFS to Value-Based Care
