Moody's Investors Service has affirmed Cleveland Clinic Health System's "Aa2," "Aa2/VMIG 1" and "P-1" ratings, affecting $3.1 billion of debt.
The "Aa2" long-term rating affirmation is based on several factors, including Cleveland Clinic's national and international clinical reputation and leading market position in northeastern Ohio.
Cleveland Clinic also faces numerous challenges, including relatively high debt and a sizable competitor.
The outlook is stable, reflecting Moody's expectation that liquidity will remain strong and operating cash flow margins will remain close to historical averages.