Moody’s also affirmed the ratings on approximately $6.4 billion of outstanding debt.
The ratings assignment is based on several factors, including the health system’s status as one of the largest nonprofit healthcare systems in the U.S., its large portfolio of sizeable hospitals and non-acute care business lines and manageable leverage and limited debt structure risks.
The outlook is stable, reflecting Moody’s Investors Service’s expectation the health system’s revenue diversification strategies and additional cost reduction initiatives will offset challenges associated with lower rate increases and relatively flat volumes.
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