Additionally, Moody’s affirmed the “Aa2/VMIG 1” and “Aa2/P-1” ratings on Advocate Health Care Network.
The long-term rating affirmation is a result of several factors, including the health system’s strong market position, geographic diversity, healthy liquidity metrics, light debt load and moderate leverage. Moody’s also acknowledged the health system’s weaker than average year-to-date margins.
The VMIG-1 rating affirmation reflects the availability of bank standby bond purchase agreements or internal liquidity for unsold bonds. The P-1 rating reflects AHCN’s ample liquidity to pay unremarketed tenders.
The outlook is stable, reflecting Moody’s expectation that the health system will maintain its healthy liquidity metrics and stabilize its operating margins.
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