Moody's assigns 'A3' rating to $500M of NYU Hospitals Center's bonds

Moody's Investors Service has assigned "A3" ratings to $300 million of series 2014A taxable bonds and up to $200 million of series 2014B healthcare revenue refunding bonds issued on behalf of NYU Hospitals Center in New York City, which along with the NYU School of Medicine comprises the NYU Langone Medical Center.

The rating assignment was based on a number of factors, including the hospital's substantial operating cash flow. For the fiscal year ended Aug. 31, NYUHC generated a 7 percent operating margin and a 13.2 percent operating cash flow margin.  

The hospital also faces some challenges, which were considered for the rating assignment, such as being leveraged with respect to balance sheet resources.

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