Moody's affirms 'Aa3' rating on Main Line Health

Moody's Investors Service affirmed its "Aa3" rating on Philadelphia-based Main Line Health's outstanding bonds, affecting $219.5 million of debt.

The affirmation is a result of several factors, including Main Line Health's healthy market position, favorable service area, strong balance sheet metrics, light debt burden and exceptional debt coverage. The credit agency noted the health system's upcoming period of increased capital spending, competitive region and considerable unfunded pension liabilities. 

The outlook is stable, reflecting Moody's expectation that the health system will maintain healthy margins to produce a strong balance sheet and leverage ratios during a period of heightened capital spending. 

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