The affirmation is a result of the health system’s strong market position, diversified revenue sources and historically favorable operating performance. Moody’s also acknowledged McLaren Health Care’s high reliance on governmental payers, subpar liquidity metrics and profitability in comparison to peers at the “Aa3” rating level.
The outlook was revised to negative from stable, reflecting the risks with a recent acquisition of MDWise, an Indianapolis-based insurer, which resulted in additional leverage and diluted operating metrics.
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