Moody's Investors Service has affirmed the "Aa3" rating assigned to Richmond-based Virginia Commonwealth University Health System's bonds, affecting approximately $320 million of rated debt.
The rating affirmation is supported by several factors, including consistently strong financial performance and manageable debt structure risks.
The rating is constrained by a highly competitive market and VCUHS' reliance on supplemental reimbursement for indigent and Medicaid recipients from the Commonwealth of Virginia.
The outlook is stable, reflecting Moody's projection that VCUHS will continue to produce robust financial results while maintaining its debt measures and solid market position.