Moody's assigns 'A3' rating to Health Quest System's bonds

Moody's Investors Service has assigned an "A3" rating to LaGrangeville, N.Y.-based Health Quest System's proposed $34.7 million of series 2015 healthcare revenue bonds.

Moody's has also affirmed Health Quest's outstanding "A3" ratings, affecting approximately $190 million of debt.

The rating assignment and affirmation are based on several factors, including Health Quest's strengthened balance sheet and position as a leading provider in its primary service area.

Offsetting these strengths are Health Quest's planned large capital projects and increasing competition in its service area.

The rating has been revised to negative from stable, reflecting Health Quest's challenges regarding its future large-scale capital needs.

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