Moody's Investors Service has affirmed the "Aa1" rating on Iowa City, Iowa-based Mercy Hospital's series 2008 letter of credit-backed revenue bonds, affecting $35.5 million of debt.
Moody's review of the long-term joint default analysis rating resulted from Moody's downgrade of Mercy's rating to "Baa2" from "A3" earlier in November.
The short-term "VMIG 1" rating assigned to the bonds is unchanged.
More hospital outlook and credit rating actions:
Moody's affirms Lexington County Health Services District's 'A1' rating
Moody's affirms Johnston Memorial Hospital's 'A3' rating
Moody's revises The Washington Hospital's outlook to positive