Moody's Investors Service has affirmed Galion, Ohio-based Avita Health System's "MIG 1" rating, affecting $86 million of series 2015 notes.
The rating reflects a commitment from the U.S. Department of Agriculture-Rural Development to provide a direct loan upon substantial completion of Avita's project to pay the series 2015 notes.
The "MIG 1" rating is based on a low risk of Avita not completing the project, which is a prerequisite to the USDA loan.