Moody's Investors Service has assigned an "Aa3" rating to Renton, Wash.-based Providence St. Joseph Health's series 2016H and series 2016I bonds, affecting $681 million.
The rating assignment is based on several factors, including PSJH's expansive service area, large pro forma revenue base of more than $20 billion and leading market share.
The outlook is stable, reflecting Moody's Investors Service's expectation that the integration of Renton, Wash.-based Providence Health & Services and Irving, Calif.-based St. Joseph Health will proceed without significant difficulty.