Moody's assigns 'Aa3' rating to Parkview Health System

Alia Paavola - Print  | 

Moody's Investors Service assigned its "Aa3" rating to Fort Wayne, Ind.-based Parkview Health System's proposed $140.1 million series 2018 and $22 million series 2019A hospital revenue bonds.

Concurrently, Moody's affirmed its "Aa3" rating on Parkview Health System's outstanding debt, affecting $576 million.

The assignment and affirmation are based on several factors, including the health system's healthy debt service coverage, manageable capital spending, growing market share and improving liquidity metrics. Moody's unfavorably viewed the health system's elevated leverage metrics and competition.

The outlook is stable, reflecting Moody's expectation that Parkview will remain the market leader despite heightened competition, which will result in strong margins and balance sheet growth. 

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