The upgrade reflects credit substitution of a new obligated group and master trust indenture, which consists of Renton, Wash.-based Providence Health & Services and St. Joseph Health System. Together, the two formed Renton, Wash.-based Providence St. Joseph Health.
The upgrade is based on a number of strengths, including PSJH’s large service area and leading share in most of its markets.
The outlook is stable, reflecting Moody’s Investors Service’s assumption that the integration of the two organizations will proceed without significant difficulty.
More articles on healthcare finance:
This week’s 5 must-reads for hospital CFOs
For-profit hospital stock report: Week of Oct. 3-7
Texas hospital explores bankruptcy
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.