Moody's assigns 'Aa3' rating to Baylor Scott & White Health's bonds

Moody's Investors Service has assigned an "Aa3" rating to Dallas-based Baylor Scott & White Health's proposed $536 million of series 2016 taxable bonds and proposed $382 million of series 2016A tax-exempt bonds.

The rating assignment is based on a number of factors, including BSWH's very good revenue growth, strong cash flow margins and position as the largest nonprofit health system in Texas.

These strengths are offset by high competition in the area, among other challenges.

The outlook is stable, reflecting Moody's Investors Service's expectation that BSWH will maintain stable cash flow levels.

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