In addition, Moody’s affirmed the “Aa3” rating on Mercy’s outstanding debt.
The affirmation and assignment are a result of several factors, including Mercy Health’s increasing size, cash flow diversification, improved operating performance, solid debt service coverage and balance sheet metrics.
The outlook is stable, reflecting the health system’s improved operating performance in fiscal year 2017.
Editor’s Note: This article was updated January 24, 2017 at 4:04 p.m. to reflect the correct location of Mercy Health.
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