Moody's Investors Service affirmed its "Aa2," "Aa2/NR" and "Aa2/VMIG 1" ratings on Rochester, Minn.-based Mayo Clinic's bonds, affecting $2.3 billion of rated debt.
The long-term rating affirmation is a result of several factors, including the system's large size, revenue diversification across states and favorable reputation. Moody's also acknowledged Mayo Clinic's moderate operating performance in comparison to peers and upcoming EMR implementation.
The short-term rating affirmation is a result of the credit quality of the bank providing liquidity and Mayo Clinic's long-term rating.
The outlook is stable, reflecting Moody's expectation that Mayo's operating performance will remain stable through the EMR implementation and cash flow will improve after the implementation.