Moody's Investors Service has assigned an "Aa3/P-1" rating to Grand Rapids, Mich.-based Spectrum Health System's $78.4 million of series 2015A variable rate revenue refunding bonds.
The rating assignment was supported by a number of factors, including Spectrum's manageable capital spending plans over the next five years and its dominant market position.
The system also faces some challenges, which were considered for the rating assignment, such as having a debt structure that is "somewhat aggressive," according to Moody's.
The system has a stable outlook, which is based on the "expectation that Spectrum will continue to benefit from its strong market position in the Grand Rapids area and broad market reach," according to Moody's.
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