The ratings agency also upgraded the rating on CHMC’s parity debt to “A1” from “A2,” affecting $93 million of revenue bonds.
The ratings upgrade is based on a number of factors, including CHMC’s strong operating performance, strong balance sheet measures and its favorable market position.
The outlook was revised to stable from positive, reflecting Moody’s Investors Service’s expectation CHMC will continue to produce strong operating performance measures and will be able to execute its large capital projects while staying within the operating and balance sheet measures of its projections.
More articles on healthcare finance:
Fitch upgrades New York City Health + Hospitals’ rating to ‘AA-‘
Moody’s assigns ‘MIG1’ rating to South Central Regional Medical Center’s notes
S&P revises Massachusetts Ear and Eye’s outlook to negative
