Moody's Investors Service affirmed its "A1" and "A1/ P-1" ratings on Honolulu-based The Queen's Health Systems' revenue bonds, affecting $392 million of debt.
The affirmation is a result of several factors, including the health system's strong liquidity, diverse revenue streams, dominant market position and strong reputation. Moody's also acknowledged the health system's variable operating performance and limited debt coverage.
The outlook was revised to negative from stable, reflecting the health system's sizable losses, which totaled $65 million in fiscal 2017.