Moody's Investors Service affirmed its "Aa3" rating on San Diego-based Rady Children's Hospital, affecting $366 million of rated debt.
The affirmation is a result of several factors, including Rady Children's dominant market position, strong balance sheet and favorable reputation. Moody's also acknowledged the hospital's lower than expected operating performance and increased capital spending.
The outlook is stable, reflecting Moody's expectation that operating results will stabilize after the period of increased capital spending.