Moody's Investors Service assigned its "A2" rating to Orlando (Fla.) Health's proposed $484 million series 2018 revenue bonds.
Concurrently, Moody's affirmed the "A2" rating on Orlando Health's outstanding bonds, affecting $769 million of debt.
The assignment and affirmation are a result of several factors, including Orlando Health's expanding presence in favorable markets, improving financial profile and solid liquidity metrics. Moody's also acknowledged the health system's highly competitive service area.
The outlook is stable, reflecting Moody's expectation that the health system will maintain favorable cash flow and strong financial metrics through a period of high capital spending.