In addition, Moody’s affirmed the “Aa2” and “Aa2/VMIG 1” ratings on Nationwide Children’s Hospital’s outstanding debt.
The long-term rating assignment and affirmation are a result of several factors, including NCH’s strong market position, solid cash flow, favorable liquidity metrics, healthy revenue growth and superior fundraising capability. Moody’s also acknowledged the hospital’s high dependency on Medicaid funding.
The short-term affirmation is a result of the bank standby bond purchase agreements and the hospital’s available liquidity to pay for the bonds if they are not purchased.
The outlook is stable, reflecting Moody’s expectation that the hospital will maintain its favorable operating margins and liquidity metrics even with its high dependency on Medicaid funding.
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