Moody's Investors Service has affirmed its "Baa3" issuer rating and debt rating for Shands Jacksonville (Fla.) Medical Center, affecting $193 million in revenue bonds.
The affirmation reflects Moody's expectation that the hospital will continue to serve as one of two academic medical centers for the University of Florida in Gainesville and as the safety net system serving Jacksonville.
Financial support from the university and the city of Jacksonville will continue to mitigate Shands' below average financial performance.
The rating outlook remains stable.