Moody's Investors Service has assigned an "A1" rating to $123.7 million of Appleton, Wis.-based ThedaCare's series 2015 bonds to be issued by the Wisconsin Health and Educational Facilities Authority.
The rating assignment was supported by a number of factors, including ThedaCare's solid operating performance in fiscal 2014, with a 4.9 percent operating margin and an 11.7 percent cash flow margin for the year.
ThedaCare's challenges such as having like-size competitors in its service area were also considered for the rating assignment.
The system has a stable outlook, which reflects Moody's expectation that ThedaCare will be able to "comfortably absorb" its 2015 bond issuance.
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