Moody's Investors Service affirmed its "A1" rating on Duarte, Calif.-based City of Hope's revenue bonds, affecting $575 million of rated debt.
The affirmation is a result of several factors, including the organization's strong market position, solid financial performance, growth in unrestricted cash and achievable strategic plan. Moody's also acknowledged the health organization will lose the majority of royalty revenue in 2019.
The outlook is stable, reflecting Moody's expectation that City of Hope will sustain its financial performance and successfully navigate the loss of royalty revenue.