Moody's assigns 'A1' rating to RWJBarnabas Health's bonds

Moody's Investors Service has assigned an "A1" rating to West Orange, N.J.-based RWJBarnabas Health's proposed $612.9 million of series 2016A bonds.

The rating assignment is based on a number of factors, including the size and scale of the new entity following the merger of Orange, N.J.-based Barnabas Health and Robert Wood Johnson University Hospital, which had flagship campuses in New Brunswick, N.J., and Somerset, N.J.

The outlook is stable, reflecting Moody's Investors Service's expectations of continued strong financial performance, improving debt coverage metrics and improving balance sheet growth.

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