Moody’s assigns ‘Baa3’ rating to Antelope Valley Healthcare District’s bonds

Moody’s Investors Service has assigned a “Baa3” rating to Lancaster, Calif.-based Antelope Valley Healthcare District’s proposed $140 million of series 2016A bonds.

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The rating assignment is based on several factors, including AVHD’s challenging payer mix and modest liquidity.

However, the system also has several strengths, including its status as a provider of many unique services in its market.

The rating is negative, reflecting AVHD’s recent challenges, including difficultly maintaining solid operating performance and a high turnover in senior management.

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