Moody's assigns 'Aa3' rating to Main Line Health's bonds

Moody's Investors Service assigned an "Aa3" rating to Bryn Mawr, Pa.-based Main Line Health's proposed $54 million of series 2017A fixed-rate health system revenue bonds.

Moody's also affirmed the "Aa3" rating on the health system's outstanding bonds, affecting $158 million of debt.

The ratings assignment is based on several factors, including the health system's solid market position and additional support from independent foundations.

The outlook was revised to stable from positive, reflecting Moody's Investors Service's opinion of the health system's unexpected, sizeable decline in operating performance year-to-date during fiscal year 2017 and increasing capital spending that may require cash funding.

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