Moody’s has also upgraded the rating to “MIG 1” from “MIG 2” on Livingston’s series 2013 revenue anticipation notes.
The notes are secured by the United States Department of Agriculture in the form of a USDA direct loan, proceeds of potential future refunding bonds by the hospital and hospital revenues and/or unallocated note proceeds.
The “MIG 1” rating assignment denotes strong credit quality from the USDA. The upgrade from “MIG 2” reflects Livingston’s improved underlying credit factors and its affiliation with Billings (Mont.) Clinic.
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