The action affects approximately $163 million of outstanding rated revenue bonds issued through the Illinois Finance Authority.
Here are three things to know about the rating action and the system’s outlook.
1. The rating affirmation was supported by a number of factors, including Riverside’s track record of very strong operating margins, favorable liquidity ratios and leading market share, according to Moody’s.
2. The system also faces some challenges, which were considered for the rating affirmation, such as modest debt coverage ratios for an “A2” level rating, despite strong cash flow generation.
3. Riverside’s outlook is stable, which reflects Moody’s expectation “that Riverside will maintain strong operating margins, liquidity strength and distinctly leading
market share to offset the system’s high debt load.”
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