Moody's Investors Service assigned its "A2" rating to Raleigh, N.C.-based WakeMed's proposed $358 million series 2019 hospital revenue bonds.
Concurrently, Moody's affirmed its "A2" rating on the health system's $370 million outstanding debt.
The assignment and affirmation are due to WakeMed's strong market position, solid cash flow margins and good days cash on hand. Moody's, however, expects the health system to remain leveraged.
The outlook is stable.