Moody's assigns 'Baa1' rating to Washington Township Health Care District's bonds

Moody's Investors Service assigned a "Baa1" rating to Fremont, Calif.-based Washington Township Health Care District's $36.4 million of series 2017A fixed-rate revenue bonds.

The ratings agency also affirmed the "Baa1" rating on the healthcare district's parity revenue bonds, affecting roughly $210 million of debt and affirmed the "Aa3" rating on its $333 million of general obligation bonds.

The "Baa1" ratings assignment is based on a number of factors, including the organization's leading market share in the district, strong clinical offerings and good physician relationships.

The outlook is stable, reflecting Moody's Investors Service's expectation the healthcare district's operating results will improve by the end of fiscal year 2017 and that its weakened balance sheet measures will improve over time.

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