Moody's Investors Service has assigned a "Baa1" rating to Robbinsdale, Minn.-based North Memorial Health Care's series 2015 fixed rate bonds, affecting $50 million issued by the City of Maple Grove, Minn.
Moody's has also affirmed the "Baa1" rating on NMHC's series 2005 bonds and the "Baa1" rating on Maple Grove (Minn.) Hospital's series 2007 bonds.
The NMHC rating assignment and affirmation were based on a number of factors, including NMHC's stable financial performance and balance sheet metrics in fiscal year 2014 and leading market share in the northwestern Twin Cities.
The rating could be pressured by downturn in financial performance and the competitive market in the Twin Cities.
The rating outlook is stable.