At the same time, Moody’s affirmed the “Aa3” rating on MSKCC’s outstanding bonds, affecting $2.2 billion of debt.
The affirmation and assignment are a result of several factors, including MSKCC’s favorable reputation, robust philanthropy, growing operating revenue, and a large base of total cash and investments. Moody’s also acknowledged the cancer center’s high leverage and heightened capital spending.
The outlook is stable, reflecting Moody’s expectation that MSKCC’s preeminent reputation will help the center expand geographically and sustain strong cash flow margins.
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