Moody's Investors Service affirmed its "Aa3" rating on Portland-based Oregon Health & Science University's revenue bonds, affecting $708 million of rated debt.
The affirmation is a result of several factors, including OHSU's strong philanthropy, competitive medical school and wide array of tertiary and quaternary procedures. Moody's also acknowledged OHSU's high debt burden, below average liquidity levels and high exposure to an unfunded pension liability.
The outlook is stable, reflecting Moody's expectation that OHSU will maintain its healthy operating margin to support its large debt load and improve its balance sheet over time.