Moody's assigns 'Aa3' ratings to Trinity Health's bonds

Moody's Investors Service has assigned "Aa3" ratings to $151 million of Trinity Health Credit Group's proposed series 2015MD revenue bonds to be issued through Montgomery County; $640 million of Trinity's proposed series 2015MI hospital revenue and refunding bonds to be issued through Michigan Finance Authority; $169 million of Trinity's Series 2015ID revenue bonds to be issued through Idaho Health Facilities Authority; and $350 million of Trinity's series 2015 taxable bonds.

The rating assignment was supported by a number of factors, including Trinity's position as one of the largest nonprofit systems in the nation, which enables good cash flow, according to Moody's.

The stable rating outlook reflects Moody's belief that fiscal year 2015 financial performance "should be on par with FY 2014 levels given continued
efficiencies gained from the merger" of Trinity Health and Catholic Health East.

Livonia, Mich.-based CHE Trinity Health abbreviated its name to Trinity Health more than a year after Catholic Health East and Trinity Health merged to form the system.


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