Moody's assigns 'Baa' rating to Presence Health's bonds

Moody's Investors Service has assigned a "Baa3" rating to Chicago-based Presence Health's proposed series 2016C revenue bonds and affirmed Presence's "Baa3" issuer rating.

The rating assignment and affirmation are based on several factors, including Moody's Investors Service's expectation that Presence Health's cash flow challenges in fiscal years 2016 and 2017 will result in liquidity contraction.

The outlook is negative, reflecting Presence Health's ongoing operating pressure, which could materially weaken its balance sheet.

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