Moody's Investors Service has affirmed an "Aa1" long-term joint support bond rating Detroit-based Henry Ford Health System.
The rating affirmation follows last month's downgrade from "A2" to "A3" of the health system's debt issued through the Michigan State Hospital Finance Authority, according to Moody's. The long-term rating is based on joint default analysis, which reflects the long-term rating of the bank as provider of the letter of credit, the underlying bond rating and the legal protections of the transaction.
Moody's maintains a short-term "VMIG 1" rating assigned to the bonds.
More Articles on Hospital Finance:
Moody's Affirms Sanford Health 'A1' Rating
8 Recent Hospital Rating and Outlook Changes, Affirmations
4 Key Steps for the Transition from FFS to Value-Based Care