Moody's Investors Service affirmed the "Baa2" rating on Boynton Beach, Fla.-based Bethesda Health's series 2010A fixed-rate bonds, affecting approximately $120 million of rated debt.
The ratings affirmation is based on several factors, including the health system's unrestricted cash and investments position and recent evidence of operating traction which is expected to provide for marked improvement of cash flow at fiscal year end 2017.
The outlook is negative, reflecting Moody's Investors Service's unfavorable opinion of the health system's multiple years of weak cash flow and missed budgets.