Moody's Investors Service assigned an "A3" rating to New Orleans-based Ochsner Clinic Foundation's $408.4 million of series 2017 revenue and refunding revenue bonds.
Moody's also upgraded the rating on the foundation's outstanding rated debt to "A3."
The ratings assignment and upgrade is based on a number of factors, including the organization's multiyear improved operating performance and balance sheet metrics and the health system's continued expansion across Louisiana and Mississippi.
The outlook was revised to stable from positive, reflecting Moody's Investors Service's expectation the organization will be able to maintain its operating margins and performance.