Moody's Investors Service assigned its "A1" rating to St. Louis-based SSM Health's proposed $655 million series 2018 revenue bonds.
The assignment is based on several factors, including the health system's large size, strong market position and properly managed capital spending plan. Moody's also acknowledged SSM's relatively weak operating performance, large construction project and unfunded pension liability.
The outlook is stable, reflecting Moody's expectation that the hospital will improve operating performance and cash flow generation over the next several years.