Moody's Investors Service has affirmed Fla.-based Adventist Health System/Sunbelt Obligated Group's "Aa2," "AA2/VMIG 1" and "P-1" ratings on approximately $1.9 billion of outstanding debt.
The rating affirmation is based on several factors, including AHS' strong financial performance and its large size and scale as an $8.3 billion enterprise.
Offsetting these strengths are poor performances in Midwest operations and debt metrics that are weaker than "Aa2" medians.
The outlook is stable, reflecting Moody's expectation that the favorable performance reported through the first half of fiscal year 2015 will continue for the rest of the year and into FY 2016.