Moody's affirms Scripps Health's 'Aa3' rating

Moody's Investors Service has affirmed San Diego-based Scripps Health's "Aa3" underlying and long-term ratings, in addition to the "Aa3/VMIG 1" rating on its 2012 variable rate demand bonds.

The "Aa3" rating affirmation is based on Scripps' stable liquidity levels and history of strong operating performance.

Scripps also faces several challenges, including an increased debt load and high projected capital spending over the next few years.

The outlook is stable, reflecting Moody's Investors Service's expectation that Scripps' operating performance will be sustained and that it will be able to fund the remainder of its capital program.

Scripps president and CEO Chris Van Gorder commented on the rating affirmation. "Moody's affirmation of our rating and outlook is further indication of belief in Scripss' ability to succeed in this new healthcare environment," he said.

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